Crypto Market Volatility Decreases, But Bearish Pressure Persists for Some Assets

The crypto market has become less volatile in recent times, but assets like Shiba Inu (SHIB) and XRP are still struggling under bearish pressure.

Shiba Inu is trading at around $0.0000041, with a long-term downtrend that started early this year. It failed to recover from the break of a rising channel in March-May, and its 50-day EMA remains above $0.0000045.

The recent trading range has shrunk to near yearly lows, but low purchase volume indicates market players are hesitant to buy big. SHIB is in oversold territory with an RSI of about 35, but there's no clear reversal signal yet.

Solana (SOL) offers a relatively better technical picture than many major altcoins. Despite its recent decline, SOL has surged above $80 after coming back from June lows around $60 and is still trading above both its 50-day and 100-day moving averages.