While the market had a decent chance for a solid recovery, which we highlighted in our previous crypto market prediction, we are seeing signs that hint at the problematic state of the current rally. However, in the case where Bitcoin breaks through around $115,000, the acceleration would be imminent even on Sept. 12.

Shiba Inu’s bullish approach

Shiba Inu is stabilizing around $0.000013, and it is starting to exhibit technical dominance. SHIB is now taking back key moving averages after months of sideways consolidation and unsuccessful breakout attempts, setting itself up for possible growth in the near future.

SHIB has successfully broken through its 50-day Exponential Moving Average (EMA) on the daily chart, a technical milestone that frequently denotes a change in momentum from bearish to bullish. Throughout SHIB’s downward trend, the 50 EMA has continuously served as resistance, making this move noteworthy. Traders are starting to see this as a structural shift in market sentiment, now that the token is trading above it.

With rising volume and a strengthening Relative Strength Index (RSI), which is currently hovering just below overbought levels, the current price action indicates that SHIB is beginning to form a gradual uptrend. This shows that, although there are no immediate signs of exhaustion, buying interest is growing.

The next resistance levels to keep an eye on, if momentum keeps up, are the 200-day EMA at about $0.000014, and the $0.000015 zone, which has historically been a region with a lot of liquidity.

Looking at it more broadly, SHIB’s dominance is psychological as well as technical. Retaining price stability above the $0.000013 threshold boosts holders’ confidence, which lowers panic-selling and promotes accumulation. Given its ability to withstand market volatility, the token is becoming more and more significant in the meme-coin ecosystem, where it is still vying for market share with Dogecoin.

But caution is still required. Even though the 50 EMA breakthrough is a positive sign, SHIB still has to contend with longer-term resistance lines that might halt its upward trend if market sentiment declines. Investors ought to keep an eye on SHIB’s ability to maintain its position above the 50 EMA and progressively test higher moving averages.

XRP approaches key level

A critical test that could determine XRP’s short-term course is approaching at $3.00. As momentum builds toward a potential breakout attempt within the next day, the asset has been consolidating below a descending trendline. Just below the crucial psychological and technical barrier at $3.00, XRP is currently trading at about $2.99 on the daily chart.

Bullish sentiment has been strengthened by the recent rally, which has been bolstered by robust buying volume and a recovery above the 50-day and 100-day EMAs. The 200-day EMA and the descending resistance trendline, however, are convergent around the $3 area, making it a difficult obstacle to overcome.

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In the short term, if XRP is able to break through $3 with convincing volume, it may lead to a surge of buying momentum that pushes the asset toward $3.30 to $3.50. This would confirm the bullish outlook for the upcoming weeks by clearly reversing the trend from its most recent corrective phase.

But if $3 is not broken, there may be rejection and a decline toward $2.80 or even $2.70, where the 100-day EMA offers support. This situation would prolong the consolidation phase by indicating that bulls are not yet powerful enough to overcome resistance.

The next day is important for investors. Rejection could result in another period of range-bound trading, while a confirmed breakout above $3 would suggest the possible beginning of a larger rally. Increased volume and momentum shifts around the $3 mark are indicators that traders should keep an eye out for, because they will shed light on XRP’s immediate trajectory.

Bitcoin’s steady rise

Bitcoin is stabilizing close to the $114,000 mark, laying the groundwork for what may be a rally toward the much-awaited $150,000 mark.

Bitcoin has successfully surpassed its 50-day Exponential Moving Average (EMA), which is frequently regarded as a turning point for momentum, following weeks of consolidation and testing lower supports. During corrective phases of recent market cycles, the 50 EMA has proven to be a dependable resistance barrier. Bitcoin’s recovery of this level suggests that there may be a change from short-term pessimism to fresh bullish sentiment. Because the 50 EMA breakout has historically preceded robust price recoveries, traders frequently see this as the first confirmation of a structural rebound.

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Buying activity is steadily rising, and volume patterns are supporting the breakout. Although it is still below overbought levels, the Relative Strength Index (RSI) is rising at the same time, suggesting that there is still potential for more upside without any immediate signs of exhaustion. If momentum continues, the next crucial resistance levels are located between $118,000 and $120,000, which is where liquidity has traditionally gathered.

Generally, the market is looking positive, but numerous reversal signals are there, so becoming euphoric too early is certainly not the call here. Staying put at around local resistance and awaiting breakthroughs on altcoins would be the only sign of a continuation at around this level.

By breaking through the crucial $0.24 resistance, Dogecoin has dealt a severe blow to bearish sentiment and rekindled bullish momentum. Since it is a significant threshold that many traders expected to mark the beginning of a more thorough price reversal, traders have been closely monitoring this breakout level. The move above $0.24 signifies a potential long-term retrace, rather than a psychological victory for bulls.

In previous weeks, this level had served as a rejection point, halting several attempts to rise. After clearing it, DOGE can now take on stronger resistances; the next significant target is in the $0.27-$0.28 range. The potential golden cross — in which the 50-day EMA is expected to cross above the 200-day EMA if upward momentum persists — is one of the most bullish technical developments that is imminent. 

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Such a crossover is typically associated with long-term rallies and is regarded as a bullish signal. This breakout has gained credibility due to the steady increase in volume. Strong market participation is confirmed by rising trading activity, which lowers the possibility of a false move. This volume increase indicates that real buying pressure, not speculative short-term speculation, is driving the rally. 

Technically speaking, DOGE is likewise comfortably above its three main moving averages, the 50-100 and 200-day EMAs, indicating widespread support for the current trend. If momentum continues, these levels ought to maintain the bullish structure by serving as a buffer against transient declines.

For the breakout to be confirmed in the near future, DOGE must keep its position above $0.24. The market could fully recover from its recent decline and possibly pave the way for a long-term bullish cycle if bulls are able to gather enough momentum to target $0.27 and higher.

Shiba Inu shows teeth

Following its breakout from a descending triangle formation, which marks the conclusion of a consolidation phase and the beginning of a new upward trend, Shiba Inu shows a strong position on the market. The breakout coincides with a recovery from an upward trendline that has served as steady support since the beginning of July. The 200-day EMA is one of the most important levels to watch right now. 

Historically, this long-term moving average has served as a deciding barrier for the direction of SHIB’s trend. The likelihood of a more substantial price recovery rises sharply if bulls can push the price above this level with consistent volume. The path toward $0.000015 and possibly the $0.00002 region could be opened by a successful break. 

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The bullish case is supported by recent on-chain data. Within a few days, the daily unique wallet activity on SHIB increased from roughly 3,000 to nearly 4,000, a roughly 30% increase earlier this month. Even though activity has since returned to normal below 3,000, this brief spike suggests that the market is once again interested and that new liquidity may be entering the system.

Such wallet growth periods have typically coincided with significant price increases. Further supporting the optimistic outlook is the approaching bullish cross of the 50-day EMA above the 100-day EMA. This crossover could draw more technical traders buying interest and would validate improving medium-term momentum. Only a 10% increase in price based on current activity would set off this signal, which could support a current rally. 

Solana’s unexpected rise

Solana, one of the market’s most resilient altcoins, has regained its prominence after soaring to the $200 mark, maintaining its recent bullish momentum. Fitting into a recurrent market pattern seen since 2021, the move occurs as the larger cryptocurrency market cools off after Ethereum’s powerful rally. Ethereum typically leads with a price spike, enters a correction phase and Solana then catches up with its own rally.

At $205, SOL is currently trading just below its next significant resistance level. The market may retest higher ranges earlier in the year if there is a strong breakout above this level, which has historical significance as a rejection point. In contrast to thin-market spikes, the recent surge is supported by strong volume, indicating real buying pressure. Since taking it back in late July, Solana has remained technically strong above its 200-day EMA. 

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After the 50-day EMA successfully retested, buyers intervened to protect important support levels, sparking recent upward movement. The market’s propensity to shift capital from Ethereum to other high-performance layer-1 blockchains with Solana frequently reaping the main benefits is consistent with this bullish price action. Despite the fact that momentum indicators are getting close to overbought territory, the absence of sudden selling pressure indicates that bulls are still in charge. 

The battleground will be at $205, which, if broken with significant volume, could result in quick upward extensions, possibly reaching $220 and higher. Short-term consolidation, however, might be triggered if Ethereum fails to break above $205, particularly if it starts another upward leg and draws the markets attention back to itself.

Solana’s price action is currently in line with its historical market rhythm, and traders are keeping a close eye on whether this rally will continue to resemble the cyclical patterns of 2021-2022.

The 2008 Orbiting Carbon Observatory and its 2014 replacement cost hundreds of millions of dollars to put in space and the data recorded is of such “exceptional” quality that farmers use it to track their fields, optimize yields and predict droughts. They were built, all the same, to monitor greenhouse gases and climate change. Accordingly, the Trump administration wants it destroyed, because it’s woke.

The equipment in space is state of the art and is expected to function for many more years, according to scientists who worked on the missions. An official review by NASA in 2023 found that “the data are of exceptionally high quality” and recommended continuing the mission for at least three years.

Both missions, known as the Orbiting Carbon Observatories, measure carbon dioxide and plant growth around the globe. They use identical measurement devices, but one device is attached to a stand-alone satellite while the other is attached to the International Space Station. The standalone satellite would burn up in the atmosphere if NASA pursued plans to terminate the mission.

Destroying our own cutting-edge space installations to own the…American farmers? I suppose it saves China the cost of two SC-19 missiles when they finally cut loose.

Previously:
• First ‘artisanal’ satellite made from wood launched into space
• Satellite photos of North Korea’s capsized new warship

Author

Simon Chandler

Author

Simon Chandler

About Author

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,…

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Last updated: 

June 5, 2025

The Solana price has dipped by 3% today, with its move to $148.41 coming as the crypto market falls by 4% in the past 24 hours.

The market has reacted badly to yesterday’s very public feud between US President Donald Trump and former backer Elon Musk, with the war of words between the pair sending the US stock market down and, by extension, the crypto market.

This means that SOL is now down by 9% in a week and by 20% in the past fortnight, with the alt also suffering a disappointing 14% drop in the past year.

And to make matters worse, data from glassnode reveals that yesterday witnessed a big spike in terms of coin days destroyed for Solana, meaning that whales dumped large quantities of long-held SOL.

Solana Price Prediction: Spike in “Coin Days Destroyed” Indicator Hints at Whale Exit – Is $100 the Next Stop?

Posting on X, glassnode revealed that June 3 saw the third-biggest total for coin days destroyed for SOL in the year to date, at 3.55 billion SOL.

What this means is that investors who had held their SOL for a long time finally capitulated and dumped their tokens on the market, a bad sign as far as faith in the Solana price goes.

Significantly, the other big spikes in coin days spent preceded falls in the Solana price, as a whales presumably drove market sentiment downwards.

As such, SOL may have a difficult weekend ahead, with its chart today reinforcing the negative picture.

Most alarmingly, its 30-day average (orange) has just dropped below the 200-day (blue), forming a death cross that usually heralds incoming dumps.

We also see its RSI (purple) dropping almost to 30 today, another sign of strong selling pressure.

Having had a good few weeks between the second half of April and second half of May, it now seems that the Solana price could be in for a rough ride in the near term.

It will be interesting to see whether it can avoid falling below the $145 support level, since if it avoids such a drop it may rebound quickly.

If not, it could fall to $140 or $130 before correcting upwards, although its longer term prognosis is much better.

Given that Solana is not only the second-biggest layer-one network, but is also looking forward to a couple of big upgrades (e.g. Firedancer and Alpenglow), it could have a strong end to the summer.

It could reach $250 by September, while the possibility of Solana ETF approvals could send it to £350 or higher by the end of the year.

New Solana-Based Tokens with Big Potential

Because Solana may be something of a slow burner this year, traders may want to diversify into newer tokens, in order to increase their exposure to potential market-beating rallies.

This means that they should investigate new coins, including presale tokens that will be listing on exchanges in the coming weeks.

A very good example of such a coin is Snorter (SNORT), a Solana-based meme token that has now raised over $450,000 in its recently begun sale.

Snorter is much more than a meme coin, however, with the project also launching a trading bot once its sale ends.

Its trading bot boasts numerous features which distinguish it from its competitors, including automated sniping (so that users can make profitable trades early), copy trading, atomic swaps, MEV protection, and rugpull protection.

Its native token, SNORT, will have a max supply of 500 million tokens, with 10% of this available to the presale.

Holders will be able to stake the token for a passive income, while they will also need it to access the Snorter trading bot and its various features.

It could therefore become hugely popular, with investors able to join its sale now by going to the Snorter website.

SNORT is selling at $0.0943, although this will rise regularly until the sale ends, at which point the coin will list and potentially surge.