Shiba

Solana

Injective

Bitcoin

Shiba Inu

<p>The post <a href="https://coinpedia.org/price-analysis/top-altcoins-to-watch-next-week-will-bitcoins-declining-dominance-push-solana-sol-shiba-inu-shib-and-injective-inj-prices/" rel="noopener noreferrer nofollow">Top Altcoins To Watch Next Week: Will Bitcoin’s Declining Dominance Push Solana (SOL), Shiba Inu (SHIB) And Injective (INJ) Prices?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>This week began with a downturn in the market, but it has since shown significant recovery, with Bitcoin approaching the $44,000 mark. As a result, major altcoins are seeing a surge in investment, aiding them in surpassing key resistance levels. As the year draws to a close, the upcoming week could bring increased volatility, potentially leading to new peak prices or lows for Solana, Shiba Inu, and Injective.</p>
<h2 class="wp-block-heading" id="h-bitcoin-s-low-dominance-triggers-altcoins">Bitcoin’s Low Dominance Triggers Altcoins</h2>
<p>Currently, Bitcoin is facing a resistance level at $45,000, and its market dominance has seen a slight decline, moving from a peak of 55.12% to 52.74%. At the same time, the market dominance of altcoins has been increasing as the metric has surged from 11.08% to 13.11%.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/dsJHpGLLD1ZR8Ob2wBChFasBcqAJ6oj_QGx8Mdp-mvYV7q4ncxX9two0jzn8rGpKicWatUzDoYSBgucJhmFLYs7bJfopZnBeS5YrbgOHenLAeK5ID-H5pQWHNBveSyoptopOXc4XiQpI2c682rf0lko" alt="">
</figure>
<p>Technical analysts often see a decrease in Bitcoin’s market dominance, combined with Bitcoin’s price showing range-bound movement or consolidation, as a potential indicator of an immediate breakout in altcoin prices. With the BTC’s dominance currently declining and altcoins dominance surging, we might see a potential <a href="https://coinpedia.org/price-analysis/crypto-market-bull-run-these-altcoins-are-best-bet-right-now-santiment-report/" rel="noopener noreferrer nofollow">bullish week for altcoins</a> next week.</p>
<h3 class="wp-block-heading" id="h-solana-price-analysis">Solana Price Analysis</h3>
<p>Solana experienced a notable rebound from its 20-day Exponential Moving Average (EMA) and broke the ascending channel pattern, which reflects strong buying interest from bullish traders.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/iBNos-MF-2HPzgJJNuBXbOTbGP5I4YrkDJHFGSAFzHp4-JOLwSlgNHWqu7pcHs9Q_uXT8WBLOQEmZUV0Sx_1lwP048ONMGluldhLK8WzTv4sX9VQjD1nrkAxswuSy1DNr-fDNCReVgB25Jhec3alOHc" alt="">
</figure>
<p>The SOL price touched a high of $99.5 and might encounter selling pressure around the $100 mark. However, if the bulls manage to maintain their position above $104 without significant losses, the likelihood of the uptrend continuing remains high. A push above the $100 level by buyers could set Solana on a path towards $118 next week.&nbsp;</p>
<h3 class="wp-block-heading" id="h-shiba-inu-price-analysis">Shiba Inu Price Analysis</h3>
<p>Shiba Inu’s price is currently in a buying demand as it holds above $0.00001. Bulls are currently aiming to breach the immediate resistance to push the price further.</p>
<p>If SHIB price breaks above its previous resistance of $0.000012, it will fuel a bullish rally toward $0.000015-$0.000018 in the coming week. However, this resistance level might pose a selling pressure.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/bbHNS7irsH83SkTFoebRkdq-TWaCXUepYJcsTazl864R5OgAM5vlQQR_s3h_g8An6Vn0Q60e2S0L_erO4ujj_CxsUjLsaniJOLYTStdYyVs29ZCuSrDn1PoYP0HYLPXgX0f4zuIEKscsw0KOf7I6_pc" alt="">
</figure>
<p>If SHIB drops below the immediate moving averages, it might be a wake-up call for sellers. In that case, the meme coin might retest buyers’ patience at $0.000009.</p>
<h3 class="wp-block-heading" id="h-injective-price-analysis">Injective Price Analysis</h3>
<p>The price of Injective touched a new high of $44 as buyers intensified their accumulation. However, the price is now facing minor rejections in continuing its surge.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/NGVzxGEsD3yhVeFNzO_hMV2yujzDp_HsLZirrMCWoWg5Iif7adgG7s1E_VI7CFVk-e6FMQ0PMwpRJ-Kiasm7rfh8qypeRnmJKer6geiiGNVYJ4bAr4JpM_Po6rbUzh03zE8OrmQM8aCX6Kco9LQTWt4" alt="">
</figure>
<p>This upward movement may encounter a slight obstacle at $50. If the price reverses at this point but stays above $40, it will imply that market sentiment is still favorable and investors are capitalizing on lower prices. This scenario would enhance the chances of the price exceeding $50. In such a case, INJ prices could rise to $55-$62 next week.</p>
<p>The RSI’s move near the midline suggests that the current rally might be too extended in the short term, and a minor correction might occur. For the bears to gain the advantage, they would need to drive the price below EMA200.</p>

Top Altcoins To Watch Next Week: Will Bitcoin’s Declining Dominance Push Solana (SOL), Shiba Inu (SHIB) And Injective (INJ) Prices?

Table of Contents

CoinPedia News

Other articles published on Dec 24, 2023

Crypto Analyst Michael Van de Poppe Predicts Bitcoin To Reach $47-50K Pre-ETF And Chainlink To Hi...

Yellow Card Crypto Exchange to pursue licensing plans in Nigeria

Chainlink: Of increasing staking and LINK’s rally

Bitcoin Set To Close 2023 As One Of The Best Performing Assets – Report

Artificial Intelligence’s (AI) Growing Impact on Elections Raises Concerns

Japanese cabinet approves crypto tax reform in 2024 fiscal plan

Join our free newsletter for daily crypto updates!