On Wednesday, Uniswap entered the top 20 cryptocurrencies ahead of MATIC after gaining more than 10% today. UNI has been rising for four sessions in a row, approaching a key point of resistance. Today, SHIB is up again, hitting its highest since May.
On Wednesday, UNI traded higher for the fourth consecutive session as the token entered the top 20.
After a low of $4.43 on Tuesday, UNI edged higher today to hit an intraday peak of $5.14.
The move brought the 19th largest cryptocurrency in the world closer to its long-term resistance level at $5.20.
As a result of this recent price spike, the 14-day RSI climbed to its highest level since April 5, hitting its own ceiling.
Looking at the chart, this ceiling looks like 53.60 points, which has not been broken for more than three months.
If we see a move beyond this point, it is likely that the UNI bulls may try to drive the price up to an even higher price ceiling of $5.80.
Shiba Inu (SHIB)
SHIB increased its gains on Wednesday as prices climbed to their highest level since May earlier in the day.
The so-called meme coin hit an intraday high of $0.00001182 in today’s session, the highest point since May 31st.
After yesterday’s rally, we wondered if the token would be able to reach the $0.00001150 resistance point, however, the bulls broke through this zone.
However, after this ceiling was broken, we saw a decrease in momentum and the price is now trading at $0.00001021..
Overall, SHIB/USD is still almost 8% above yesterday’s high and the bulls are likely to try to push prices further.
If they manage to maintain this recent momentum, the $0.00001300 resistance is likely to be their next point of interest.
Will we see SHIB continue to rise in the coming days? Let us know your thoughts in the comments.
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Credit : news.bitcoin.com