Shiba Inu (SHIB)
The price of Shiba Inu (SHIB) has dropped today, ending a three-day winning streak for bears. After reaching a peak of $0.000007527 on Wednesday, SHIB/USD fell to a low of $0.00000725 earlier today. This decline was triggered by the inability of bulls to surpass the $0.00000755 resistance level, leading to downward pressure.
Looking at the chart, it is evident that the shift in momentum occurred when the relative strength index (RSI) failed to break through the key ceiling. The RSI could not surpass the resistance level of 43.00 and is currently at a reading of 40.09. If the price continues to decrease in the coming days, it may find support at $0.00000710.
Toncoin (TON)
Toncoin (TON) experienced a 7% drop on Thursday after reaching its highest point in nine months. TON/USD hit a low of $2.31 today, following a peak of $2.49 less than 24 hours ago. This decline can be attributed to toncoin bulls choosing to secure their gains after a recent surge to its strongest level since late January.
After being in the overbought region for the past few days, toncoin’s RSI is now at 65.19. It seems that the next support level for price strength could be around 56.00, which suggests that more profit-taking might occur.
Hot Take: Shiba Inu vs Toncoin
In today’s crypto market, both Shiba Inu (SHIB) and Toncoin (TON) experienced drops after recent gains. While Shiba Inu faced resistance at $0.00000755, Toncoin reached its highest point in nine months before encountering profit-taking. It will be interesting to see if Shiba Inu can find support at $0.00000710 and if Toncoin’s price strength can hold around 56.00. Keep an eye on these cryptocurrencies as their future movements unfold.
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.