Bitcoin continues to trade at $40,000, just above a $39,500 support area. The largest cryptocurrency is relatively flat compared to yesterday and we did not see any sudden movements in the price as the US stock markets did not open at 16:30. Today is a holiday for the US stock markets and it is hoped that Bitcoin will continue its horizontal course in the coming hours.
White highlights the short-term range where LUNA has been trading for the past four days. The range lows and highs are $80.7 and $89.1. At the time of writing, the LUNA is priced at $80.5. The RSI was in bearish territory at 41, but if it can rise above the neutral 50 in the next few hours, it would be a good sign for the bulls.
However, that was just a range and should be watched for 88-90 profit sales. OBV has been in a downtrend for about ten days and will likely drop further.
SOL has been trading in the range of $98-108 for three days. Zooming out a little further, a possible (but not perfect) descending triangle (white) can be seen. Therefore, if the price can climb above the $108 resistance as well as the descending trendline resistance, it could be a sign of a short-term uptrend.
The RSI is on the verge of breaking above the neutral 50 line. However, the CMF sits well below the -0.05 level. This indicates selling pressure.
Shiba Inu (SHIB)
Due to its Robinhood listing, SHIB has managed to stay relatively strong throughout this period. However, it could not hold above $0.000030 due to its high correlation with Bitcoin. Hype is paramount to Shiba Coin and that is dwindling. The price finds buyers at $0.00002567 at the time of writing.
CVD has been pretty flat as it puts buyer-to-seller pressure, but hasn’t shown any significant pressure from either side over the past few days. On a similar note, the Awesome Oscillator is also relatively calm, but below the zero line to show bearish momentum. The Fibonacci retracement levels (yellow) indicated another group of support levels below the low range where Shiba Coin could see a bullish response.