Shiba Inu (SHIB) Continues to Rally
Shiba Inu (SHIB) experienced a third consecutive day of gains on Saturday, with the meme coin surging nearly 4%.
After hitting a low of $0.000006828 on Friday, SHIB/USD reached a peak of $0.000007099 over the weekend, marking its highest point since Monday when it traded at $0.00000721.
The rally began after bulls prevented a breakout below the $0.00000670 support level earlier in the week, and now they aim to push the coin towards a resistance level of $0.00000760.
Based on the chart, the relative strength index (RSI) has moved above its previous ceiling at 45.00, currently standing at 46.39, with the next visible resistance at 51.00.
Solana (SOL) Breaks Above $22.00
Solana (SOL) also saw gains as it finally surpassed the $22.00 mark during the weekend.
SOL/USD reached a peak of $22.20 in today’s session after hitting a low of $21.39 on Friday.
The momentum slowed down later in the day as bulls started closing their positions.
This could be attributed to the RSI hitting a ceiling around the 53.00 region.
Currently, the index is at 53.02, and solana is trading at $21.92 as momentum begins to shift.
Hot Take: Shiba Inu and Solana Show Positive Movement
The weekend brought positive movement for both shiba inu (SHIB) and solana (SOL). SHIB experienced a third straight day of gains, reaching its highest point since Monday. Bulls successfully defended the support level and are now targeting a resistance level. On the other hand, SOL broke above $22.00 but faced some resistance as bulls closed their positions. The RSI played a role in both cryptocurrencies’ movements. Shiba inu’s RSI moved above its previous ceiling, indicating growing strength, while solana’s RSI hit a ceiling, causing momentum to slow down. Overall, these developments indicate some bullish sentiment in the market.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.