Biggest Movers: SHIB, LTC Rebound From Recent Losses on Saturday
Shiba inu continued to move away from a recent one-week low on Saturday, as the meme coin rebounded to start the weekend. Although overall sentiment remains bearish, prices are starting the weekend relatively stronger. Litecoin also rebounded in today’s session. Shiba Inu (SHIB)
Shiba inu (SHIB) saw its price climb marginally higher to start the weekend, breaking out of a resistance level in the process.
SHIB/USD rose to an intraday peak of $0.00001324 to start the weekend, less than 24 hours after bottoming out at $0.0000122.
Today’s move saw the meme coin move beyond a price ceiling of $0.00001290, and away from a recent floor at $0.00001160. SHIB/USD – Daily Chart
However, today’s rebound has somewhat lost momentum, and this comes as the relative strength index (RSI) of 14 days failed to move beyond the 55.00 mark.
At the time of writing, the index is tracking at 52.55, which is marginally above a support at 51.00
Should price strength continue toward this floor, there is a strong possibility that SHIB could fall below $0.00001200. Litecoin (LTC)
Litecoin (LTC) rose for a second straight session on Saturday, as it too moved away from recent lows.
Following a drop to a bottom at $91.37, LTC/USD moved to a high of $94.67 earlier in the day.
Saturday’s surge has seen litecoin move away from its recent point of support at $91.40, and it is now possibly heading for a ceiling at $95.00. LTC/USD – Daily Chart
As can be seen from the chart, this began as bulls rejected a move below the 50.00 mark on the RSI, and now seemingly could be heading to resistance at 58.00.
One possible obstacle will be that of the 10-day (red) moving average, which appears to be nearing a crossover with its 25-day (blue) counterpart.
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Could litecoin climb to $95.00 over the weekend? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: ETH Nears $1,500 Level to Start the Weekend MARKET UPDATES | 10 hours ago Bitcoin Price Outlook for February MARKET UPDATES | 1 day ago
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