Solana price shows bears are still in control on higher time frames. The bulls not have not yet produced a retaliation of equal or more value to the previous decline. Invalidation of the bearish short-term thesis is a breach above $38.
Shiba Inu price shows declining volume with each countertrend rise. The Relative Strength Index breached oversold territories and has yet to rise into the opposite extreme. Invalidation of the bearish thesis is a breach above September’s monthly high.
The worsening global market pressure can be seen on the crypto market as the combined value of all cryptocurrencies remains stuck at around $900 billion. While external factors usually end up rescuing tokens during such bearish periods, even those are unsuccessful at the moment.
