Biggest Movers: SHIB, LTC Rebound From Recent Losses on Saturday
The Shiba Inu continued to pull back from a recent weekly low on Saturday as the meme’s coin bounced back ahead of the weekend. While overall sentiment remains bearish, prices start the weekend relatively stronger. Litecoin also recovered in today’s session.
Shiba Inu (SHIB)
The Shiba Inu (SHIB) saw its price rise slightly at the beginning of the weekend, breaking through the resistance level in the process.
SHIB/USD rose to an intraday peak of $0.00001324 by the weekend, less than 24 hours after bottoming at $0.0000122.
Today’s move has seen the meme coin break the $0.00001290 price ceiling and off the recent low of $0.00001160.
However, today’s bounce lost some momentum, and this was due to the fact that the 14-day Relative Strength Index (RSI) failed to rise above 55.00.
At the time of writing, the index is tracking at 52.55, slightly above support at 51.00.
If the price continues to move towards this level, there is a strong possibility that SHIB could fall below $0.00001200.
Litecoin (LTC) rose for a second straight session on Saturday as it also pulled back from recent lows.
After bottoming out at $91.37 LTC/USD climbed to a high of $94.67 earlier in the day.
Saturday’s surge saw litecoin move away from its recent support point at $91.40 and may now be heading towards the $95.00 ceiling.
As you can see from the chart, this started when the bulls gave up moving below the 50.00 mark on the RSI and now seem to be moving towards the 58.00 resistance.
One possible hurdle would be the 10-day (red) moving average, which is approaching a crossover with its 25-day (blue) counterpart.
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Can Litecoin Climb To $95 Over The Weekend? Let us know your thoughts in the comments.
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Credit : news.bitcoin.com