Amid the growing atmosphere of hope, a wave of enthusiasm has also emerged in the meme coin sector, which is known for its unpredictability.
Solana (SOL): Staying Stable in a Volatile Market
The Solana (SOL) ecosystem is showing signs of improvement after the fall. Despite the challenges, Solana (SOL) is slowly moving forward, starting from the support level of $138.93. Gradually re-entering the market. The price of SOL fluctuates between $139.09 and $141.32, with the 10-day moving average at $135.11 and the 100-day moving average at $135.6. The support level is $136.98, and the resistance levels are $152.34 and $185.56.
Given the current market dynamics and Solana’s recovery curve, cautious optimism seems to be the best case scenario. The resurgence in DeFi activity is also a welcome sign as the Solana network grows.
DOGE is about to bounce off a key support level
The current trend in the chart is quite interesting. DOGE seems to be under pressure and is trading below important EMAs such as 20, 50, 100, and 200, which also act as resistance levels. These EMAs are aligned in a certain way which suggests that selling pressure has taken over the market.
Recently, the price rebounded from the $0.09800 low, which acted as a support. On the upside, it faced resistance around $0.10393, while $0.10199 acted as a hurdle.
It is worth noting that as long as DOGE fails to reclaim and maintain its position above these EMAs, the trend will remain bearish. If the current support around $0.09800 gives way, this could indicate the potential for further declines. However, this could be the best time to watch out for an entry.
Meme coins are on the rise: Shiba Inucoin (SHIB) shows strong resilience
The overall market is not doing well and cryptocurrencies and SHIB have also been affected. Despite SHIB, memecoins have been actively involved in initiatives such as Shibarium, Shuboshi, and BONE in terms of market value. The chart shows a trend of decreasing peaks and troughs within the channel.
The price is in a clear bearish trend, which is highlighted by the continuous appearance of red candles. It has tested the upper resistance of the channel several times but failed to break through.
The price is below EMA 20, 50, 100, and 200 (red, yellow, green, and blue lines), respectively, which indicates strong bearish sentiment as SHIB remains below these key resistance levels.
Polygon (MATIC): Expanding the corporate footprint
The recent announcement of a partnership with Polygon (MATIC) has created a buzz within the community. The partnership highlights Polygon’s growing influence as an enterprise solutions provider. It solidifies its position as the leading L2 scaling solution for Ethereum.
The current price range of Polygon MATIC is $0.4001 to $0.4571. Looking at the moving averages, the 10-day moving average is $0.798, while the 100-day moving average is $0.638. The support levels are $0.057 and $0.422, and the resistance levels are $1.151 and $1.516.
Through strategic partnerships and platform development, Polygon (MATIC) has fostered optimism – it has captured the positive momentum well. However, the current performance will undoubtedly still depend on two factors that will determine whether Polygon will continue to move higher or hit a roadblock. They are related to the wider adoption of blockchain in enterprise solutions and the overall sentiment of the market.
