The recent data indicates a possible comeback for Shiba Inu (SHIB). The trading volume and price have been descending, indicating a fading trend. However, the successful relaunch of Shibarium Layer 2 solution has added credibility and utility to SHIB, making it more than just a meme coin. These factors create a backdrop where a reversal seems plausible.
Source: TradingView
In the case of XRP, selling pressure has been present, particularly from institutional investors. However, the absence of increased selling pressure over the weekend suggests a fighting chance for XRP to conquer the 200 EMA price level. The situation is described as a chess game where both players are down to their last few pieces, and every move counts.
For Solana (SOL), a descending volume and the lack of liquidity as challenges are highlighted. Despite these factors, Solana is showing signs of growth in terms of total value locked (TVL) in its ecosystem. The fundamentals of Solana are considered solid, but market conditions are creating obstacles.
Overall, while there are challenges and uncertainties in the cryptocurrency market, there are also indications of potential reversals and opportunities for growth.
Source: UTODAY
