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Biggest Movers: SHIB Remains Close to 2-Month High, as BCH Extends Recent Gains

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The Shiba Inu traded close to a two-month high on Tuesday, despite a slight drop in prices from yesterday’s peak. At the time of writing, meme coin prices have remained high despite the earlier weakening of growth. Bitcoin Cash also rose, rising for the seventh straight session.

Shiba Inu (SHIB)

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After yesterday’s rally, which sent prices to a two-month high, shiba inu (SHIB) shares continued to trade near these levels, despite the weakening of earlier gains.

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The meme coin prices hit an intraday high of $0.00001243 on Tuesday, slightly below Monday’s peak above $0.00001260.

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Today’s move has seen SHIB/USD hit its long-term resistance level at $0.00001240, which hasn’t been broken since mid-May.

Biggest Drivers: SHIB remains close to 2-month high as BCH expands on recent gains
SHIB/USD – daily chart

After today’s clash, the previous bulls turned bearish and decided to close their positions to protect their earlier profits.

Looking at the chart, these traders decided to abandon these positions as the 14-day RSI approached its resistance at 60.70.

Price strength hasn’t been above this point since March, when SHIB traded close to the $0.00002500 area.

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) was also up in today’s session as token prices rose for the seventh consecutive session.

The token rose to an intraday high of $124.46 in today’s session, the highest point since June 16.

Splash Tuesday see BCH/USD is approaching the key resistance level of $128.30, which has existed since June 13.

Biggest Drivers: SHIB remains close to 2-month high as BCH expands on recent gains
BCH/USD – daily chart

After a low of $95 last week BCH formed a band of higher highs, which led to a significant increase in price strength.

At the time of writing, the index is trading at 58.05, the highest in three months that prices have traded above $300.

If this current price ceiling is breached, we will most likely see the bulls try to take over. BCH to $150.

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Credit : news.bitcoin.com

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