**Bitcoin Halving Anticipation Sparks Optimism for Altcoins**
Bitcoin halving is anticipated in slightly over a day, as confirmed by various countdown calculators like CoinGecko. The event is expected to create unparalleled optimism for a bull run in 2024, led by a Bitcoin price surge to a new all-time high. While the focus is on BTC, top altcoins like Solana (SOL) and Shiba Inu (SHIB) are also making significant moves in the market.
**Solana (SOL) Shows Signs of Reversal**
Solana, the competitive smart contracts token boasting a $62 billion market cap and ranking #5 among other cryptos, had recovered to $141 on Thursday while showing signs of an incoming trend reversal. Traders are ready to get back in the game, with a 4% surge in trading volume to $5 billion on CoinMarketCap. The sudden interest in SOL longs underscores a modest 7.25% increase in value, thanks to the robust support by the ascending trendline.
The next few days will be crucial for Solana, as it may determine whether the $200 mark is within reach or if traders should prepare for a period of consolidation between support at $120 and resistance at $150. If the Relative Strength Index (RSI) sustains the uptick from near oversold conditions, Solana price could gain momentum and close the gap to $200.
**Shiba Inu (SHIB) Demonstrates Resilience**
Shiba Inu Coin, a token inspired by the meme coin narrative, has demonstrated resilience and a potent recovery after a period of bearish trends. With a market capitalization of $13.4 billion, it ranks 11th among cryptocurrencies. The trading volume in the past 24 hours has slightly decreased by 2.84%, totaling approximately $565.38 million.
Despite facing a notable price dip, Shiba Inu has maintained its position within the top 15 global cryptocurrencies by market capitalization for over two years. Lucie, the marketing lead for Shiba Inu, highlighted the cryptocurrency’s resilience on social platforms, reassuring investors of upcoming gains.
With the SHIB recovery in focus, a significant challenge looms at the $0.000023 resistance level. Breaking through could elevate its price to $0.00005, setting the stage for a potential rally to $0.001. The renewed bullish sentiment among investors reflects a strong belief in SHIB’s future growth and value.
As the Bitcoin halving approaches, the optimism in the market extends beyond BTC to altcoins like Solana and Shiba Inu, showcasing the potential for significant growth and price movements in the coming days.
