Earlier today, Solana announced Alpenglow, a major protocol upgrade designed to improve transaction speed and network efficiency. Unveiled by infrastructure firm Anza, a Solana Labs spinout, the new protocol aims to replace Solana’s current consensus mechanisms with a redesigned system. But the crypto community is curious: will it be as successful as the ETH Pectra upgrade? Solana Upgrade: The Road to Alpenglow Solana Alpenglow came into place as Solana’s network matured and the blockchain faced a surge in transaction volumes. This has caused congestion, which could be seen from its network outages on February 6, 2024, and multiple events in 2022. Another key issue was the complexity and latency of Proof of History (PoH) and Tower BFT. With the introduction of thousands of meme coins on Solana, the surge in transactions caused bottlenecks. 1/ Introducing the largest Solana Protocol change ever: Alpenglow, Solana’s new consensus protocol conceived by the Anza… Read More at Coingape.com
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HBAR has seen a notable rally recently, bringing the altcoin back into a key consolidation zone just under $0.20. Trading close to this critical level, HBAR is showing signs of strong momentum.
A successful breach of $0.20 could mark the beginning of further upside, provided bullish market conditions continue to support the move.
HBAR Traders Are Optimistic
The market sentiment around HBAR remains highly optimistic, as indicated by its funding rate, which has stayed positive for nearly two weeks. A positive funding rate suggests that traders are confident in the altcoin’s bullish trajectory and are positioning themselves to benefit from potential gains.
Additionally, the dominance of long contracts highlights the heightened bullishness among investors. Traders are betting heavily on HBAR’s price increase, reinforcing the view that the altcoin could soon breach its key resistance.
The broader macro momentum for HBAR is mixed, presenting both opportunity and risk. The liquidation map shows that about $42 million worth of long contracts are at risk if the HBAR price falls to $0.167. This exposure underlines the critical importance of the $0.200 resistance.
Given this setup, maintaining current price levels is crucial for HBAR. If the altcoin fails to sustain its upward momentum and investors lose confidence, the resulting liquidations could significantly impact its price trajectory.
HBAR is currently priced at $0.193, holding just under the critical $0.200 resistance. This level has remained unbroken for more than a month and a half. Historically, repeated failures to breach significant resistance levels have often led to declines, making the current situation pivotal for HBAR’s near-term direction.
If HBAR fails to break through $0.200, the altcoin could lose its $0.182 support and slip to $0.167. A fall to this level would trigger the liquidation of the $42 million worth of contracts mentioned earlier, likely intensifying the downward pressure and causing further market distress.
Conversely, if broader market conditions remain favorable and investors continue to support HBAR, the altcoin could successfully breach the $0.200 barrier. Achieving this would invalidate the bearish outlook and set HBAR on a course toward $0.222, opening the door for renewed bullish momentum.
Shiba Inu trades price near $0.00001500, up about 8% this week and more than 30% this month, still below January’s $0.000024 peak.
Price keeps nudging higher, but one band keeps sending it back. To judge if this move can stretch, it helps to know if holders are really cashing out and whether momentum is actually building.
SOPR Is Flat Because Weak Holders Are Exiting at Break-Even Or Lower
Profit taking is what usually stalls a rally, so the Spent Output Profit Ratio (SOPR) matters here. SOPR shows if coins sold on-chain are in profit (>1) or loss (<1).
It is around 1.0 currently after weeks below that line. Back on April 30, SOPR dropped to roughly 0.72 when price was near $0.00001327. Price then climbed about 28% to around $0.00001700 while SOPR drifted back toward 1.0.
On June 16, SOPR sank even lower to about 0.69 with price near $0.00001188. Price later rose roughly 30% to about $0.00001546 and SOPR again moved toward 1.0. SHIB’s SOPR dipped again to 0.83 two days earlier. The corresponding price upside is still pending.
The data shows coins being spent are near break-even or at a loss, not big profit. Despite the price rise, it implies weaker hands are leaving quietly, thinning supply above.
Historically, real pullbacks started when SOPR pushed clearly above 1.0 while price stalled. That has not happened yet.
RSI Shows Buyers Gaining Strength Under the Surface
A move needs momentum to carry through, so the Relative Strength Index (RSI) is checked next.
RSI measures the strength of recent price moves on a 0–100 scale. Since mid-June, the daily RSI has made a small higher high, while the price has made a lower high. That bullish divergence says momentum is improving faster than price.
Even though the RSI divergence is barely there, it hints at growing momentum, positive for the Shiba Inu price action.
This means buyers are getting stronger even though the price has not broken out. If RSI keeps rising and price follows, the breakout chance increases. If RSI turns down while price stalls, the move can pause.
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Shiba Inu Price Levels Decide If the 45% Target Opens
Levels are needed to confirm what the indicators suggest. The main ceiling is $0.00001587, a level that has been rejecting the Shiba Inu (SHIB) price for a while now.
A daily close above $0.00001587 could push SHIB price to $0.00001746 (roughly 16% higher) and then $0.000022 (roughly 45% higher). However, SHIB price would still need to first cross above the psychological resistance of $0.000020 before heading higher, a 33% from the current level.
Note: Not many technical resistance levels exist once the Shiba Inu price manages to cross $0.00001746
On the downside, $0.00001463 is the first level to hold, followed by $0.00001375, the 0.5 Fibonacci level. The bullish view weakens fast if the price falls under these levels while SOPR jumps above 1.0. That would show profit sellers finally stepping in.
Fibonacci extension levels are used because they mark common pullback and target zones that traders act on.
