• Solana (SOL) and Shiba Inu (SHIB) started the week trading near their two-month highs, despite market consolidation.
• SOL/USD hit an intraday high of $24.75 on Monday, while SHIB/USD climbed to a peak of $0.00001099.
• Both tokens remain close to their respective highs from last Friday, with the 14-day relative strength index (RSI) tracking above 80.00 for SOL and 73.00 for SHIB.
This week began with bullish sentiment in the cryptocurrency market, with both Solana (SOL) and Shiba Inu (SHIB) trading near their two-month highs. Despite the market’s overall consolidation, both tokens have maintained the bullish momentum seen in recent days.
Solana (SOL) saw its value reach an intraday high of $24.75 on Monday, staying close to last weekend’s peak of $25.03. This is the strongest point for SOL since November 8, and it appears that sentiment in the token is still bullish, as evidenced by the 14-day relative strength index (RSI) tracking above 80.00. As of writing, SOL/USD is trading at the price point of $23.42.
Shiba Inu (SHIB) saw similar bullishness, climbing to an intraday peak of $0.00001099 earlier today. Monday’s action has kept the token close to the two-month high of $0.00001111, which was seen last Friday. The RSI for SHIB/USD is currently tracking at 73.00, with a floor at the 70.00 mark potentially serving as a target for sellers.
Overall, both SOL and SHIB have shown remarkable resilience despite the market’s consolidation. It remains to be seen if the tokens can maintain their current momentum and continue to reach new highs in the coming days.