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Cardano, Solana, Shiba Inu Price Analysis: 18 December
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Cardano found strong support at $1.2, while Solana also saw demand at the $168-$170 area. However, if Bitcoin slides towards the $42k pocket over the next few days, most altcoins can expect to see heavy red. Shiba Inu also faced strong selling pressure.
Source: ADA/USDT on TradingView
ADA formed a descending triangle pattern on the hourly chart. The Fibonacci retracement levels appeared to be respected by the price, as these levels coincided with a series of lower highs in the past two weeks following the 4 December selloff.
An hourly or 4-hour session candle close outside the triangle pattern is necessary to determine ADA’s short-term trajectory. The OBV held tenuously on to support and showed buyers losing strength on each bounce, off the
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