250% needed to reach ATH, will Ethereum (ETH) hold above $3,000? Solana (SOL) may enter price correction

Even with the recent strong rally, the Shiba Inu still has a ways to go before it hits its all-time high (ATH). To reach its ATH level, which it last reached at the height of the last bull market, SHIB would need to see an additional 250% price increase. Given the renewed interest in altcoins and favorable market conditions, this ambitious goal may not be unattainable, but it will take a lot of momentum.

Examining the price chart of SHIB, it is clear that recent bullish activity has lifted the token above a number of significant moving averages, a positive technical indicator that often signals further upward movement. Notably, SHIB is now close to resistance around its current highs after managing to break through the 50-day and 100-day EMAs. Ahead of the next leg up, some consolidation or a small pullback may be needed as the RSI indicator is also in overbought territory.

SHIB needs to hold support levels around recent breakout points, especially near $0.000021, if it is to continue on its recovery path. It may continue to attract buying interest if it can stay above this range. An important psychological level and a significant step on the way to its ATH, $0.000030, is where additional price targets are located. Strong market sentiment and perhaps additional external catalysts, such as more on-chain activity or encouraging developments in the larger cryptocurrency space, are needed for a 250% increase to regain its all-time high.

However, SHIB’s recent breakout is encouraging, and if the altcoin growth trend continues, it could pave the way for a significant recovery. Investors will keep an eye on SHIB for now to see if it can sustain its growing momentum and move closer to its ATH.

Strategic Ethereum Threshold

Ethereum recently broke through the $3,000 barrier, but it is now difficult to maintain this level due to increased selling pressure from key players. Ethereum’s ability to hold on to this crucial price point may determine its immediate future trend given the remarkable whale activity that has unloaded ETH in recent days.

For Ethereum, the $3,000 mark has long served as a psychological and technical barrier that draws both buying and selling activity. The upward momentum is currently complicated by the presence of significant selling pressure for the whales as ETH trades at around $3,134. The market has become more cautious as a result of recent sell-offs by major owners, and some investors may be wary of excessive gains.

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Ethereum’s recent breakout above significant moving averages has fueled the current rally according to the daily chart. Now that the 50, 100 and 200 day EMAs are below the price, they may provide support if ETH pulls back from its high. Nevertheless, the RSI indicator approaching overbought levels indicates that the upward momentum may be slowing, which is often a sign of a price correction or consolidation.

Ethereum can reach the next important support level which would be around $2,770 and corresponds to the 200-day EMA if it is unable to hold above $3,000. In the event of a withdrawal, this region can serve as a cushion. On the positive side, holding levels above $3,000 could revive optimism. If momentum picks up, ETH could retest higher resistance levels and perhaps even the $3,500 region.

Solana’s fix is ​​coming

Despite recent strong gains that have seen Solana reach highs above $210, there are indications that a price correction may be imminent. SOL’s chart is showing signs of waning momentum after a significant rally, which is a common indication of possible price exhaustion. These indicators may point to a short retracement ahead of a subsequent stage, although the overall trend is still bullish. After examining the daily chart, it is clear that Solana has risen above key moving averages, with the 50-day and 100-day EMAs hovering around $162 and $158, respectively.

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The main support in case of a pullback can be these levels. For SOL’s trend, a correction to these levels is likely to be beneficial, allowing buyers to re-enter the market at more favorable prices. Additionally, as buying pressure temporarily eases, assets often experience some consolidation or a pullback into the overbought territory that the RSI indicator has entered.

This could mean a pause or minor reversal in the uptrend rather than a bearish reversal. An area of ​​recent consolidation, $177, provides immediate support if Solana returns. If the price falls below this level, it could reach the 50-day EMA at $162, which would be a critical support zone to keep the bullish structure in place. Given the strong uptrend, a break below this could indicate a deeper correction, although this seems less likely.