- Tron is visibly getting closer to the leader of decentralized networks Ethereum
- Solana overcomes an important resistance level at $160, giving hopes for further growth
- Shiba Inu struggles to overcome the 50-day Exponential Moving Average
TRX shows itself as one of the fastest-growing cryptocurrencies, showing a rapid jump of 20% and approaching the pace of Ethereum.
Solana, one could say the third most important crypto is also showing a crossing of $160, and together this should threaten Ethereum’s central place in the DeFi sector.
Meanwhile, Shiba Inu has experienced notable difficulties in trying to cross the important mark and is showing obvious bearish sentiment.
Tron Challenging Ethereum and Growing
Many had rightly expected Solana to become Ethereum’s main competitor and take its central place in DeFi, as it also offers great features with much more efficient implementation.
Suddenly, however, Tron is starting to emerge as such a competitor, with a rapid 20% growth, reminiscent of the Ethereum rally before everyone discovered its features and benefits.
With Tron transactions being cheaper and more attractive to many developers and users, many are now seriously considering whether Tron will take the lead in DeFi if it maintains its position and continues to grow.
Solana Breaks Through the $160 Resistance
If we go back to the main, generally recognized Ethereum competitor – Solana also showed an impressive jump.
More specifically, Solana made a break through the $160 resistance level, accompanied by high trading volume, indicating strong investor interest and the possibility of further price growth.
However, to satisfy this sentiment, Solana will need to maintain its upward momentum and overcome new resistance levels to fully enter the bull cycle, as it has remained in a sideways channel since April 2024.
Shiba Inu and Its Difficulties to Overcome the 50-day EMA
The Shiba Inu has not been as optimistic and has not been able to overcome its 50-day exponential moving average, keeping pressure from sellers.
If this pressure persists, it could leave SHIB outside the 50, 100, and 200 EMAs and keep it away from further significant upside moves.
Conclusion
The most interesting thing to watch now is Ethereum’s unexpected competitor in the form of Tron, while its main competitor remains Solana also showing good growth.
Let’s carefully observe whether Ethereum will give way to Tron, whether it will happen instantly and unexpectedly as it was with Tron, or whether it will gradually give way to Solana as many expect.
Or maybe it will remain central to DeFi and the ecosystem will continue to grow in breadth, but still now investors need to be very attentive and cautious.
