Solana Price Tests Support as Shiba Inu Struggles Amid ZKP Presale Frenzy
The Solana price is currently hovering near $73.90, testing an important support level close to $73. This area has held buyers since June, but overhead selling pressure keeps short-term gains limited below $77.
If buyers can push the token above $77, it could move toward resistance targets between $80 and $84. However, failing to hold the $73 level opens up serious downside risks.
A breakdown below $73 could push the token down toward the $68 to $64 liquidity zone, or even down to its June low near $60.
Meanwhile, the Shiba Inu price has dropped toward $0.0000052 after experiencing recent market volatility. High trading activity on South Korean exchanges previously added short-term momentum, but broader selling pressure continues to weigh on the asset.
The token currently trades below major technical levels, including its 20-day and 200-day moving averages. Chart analysis suggests near-term price action will likely stay trapped in a narrow range between $0.00000481 and $0.00000559.