Solana, Shiba Inu, Fantom Price Analysis: 01 February
As the Bitcoin fear and greed index surged by 6 points over the last day, Solana registered double-digit 24-hour gains to reclaim the $102-support. Also, Fantom moved above its 4-hour 20 SMA while reclaiming the $2.09-level. On the other hand, Shiba Inu oscillated in a range now for over a week.
Source: TradingView, SOL/USD
After breaching the $167-mark, the bears kept testing the $132-mark resistance (previous support). The recent sell-off saw a diminution of 43.7% (from 21 January) until its five-month low on 24 January.
The recent bearish pennant breakdown quickly reversed after the bulls stepped in at the $89.98-mark. As a result, the alt saw a 19.12% 24-hour gain. Any retracements from here would find a floor at the $102-level.
At press time, SOL traded at $105.4425. After plunging to its record low, the RSI upturned by a staggering 51 points from the oversold territory. Now, it reversed from the overbought region as it eyed to test the 56-mark. Also, the Squeeze Momentum Indicator unveiled a grey dot after nearly a week, hinting at a high volatility phase. Besides, the ADX continued to depict a weak trend for the SOL.
Source: TradingView, SHIB/USD
The meme-token swiftly declined and lost 58.6% of its value (from 27 December) until it poked its 15-week low on 22 January.
Then, it saw a reversal after the buyers stepped in at the $0.00001864-level. Post that, SHIB witnessed a bearish pennant on its 4 -hour chart. However, the bulls refrained from dwindling and upheld the $0.00002-level. The Immediate resistance continued to stand at the $0.000022-mark.
At press time, SHIB was trading at $0.00002164. After an impressive recovery, the RSI pulled back from its rising wedge. But it managed to find a close above the half-line,
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