Biggest Movers: DOGE Snaps Losing Streak as SOL Hits Fresh 6-Week High
Dogecoin snapped a two-day losing streak on Thursday, as sentiment in crypto markets remained bullish. The meme coin moved to a one-week high, moving away from a key price floor in the process. Solana rose for a fifth straight session. Dogecoin (DOGE)
Dogecoin (DOGE) ended a two-day losing streak in today’s session, as prices rose by over 5% on Thursday.
Following a low of $0.0821 on Wednesday, DOGE/USD raced to a peak of $0.08838 earlier in today’s session.
As a result of the move, the meme coin continued to to move away from a key level of support at $0.0810. DOGE/USD – Daily Chart
From the chart, it appears that today’s surge came as the relative strength index (RSI) broke out of a ceiling at 55.00.
Currently, price strength is tracking at the 56.65 level, with a resistance of 60.00 a possible target for bulls.
Should this target be hit, there is a strong possibility that DOGE will be above $0.09000. Solana (SOL)
Solana (SOL) was once again in the green, as the token rose higher for a fifth straight session.
SOL/USD moved to an intraday high of $25.24 earlier in today’s session, which comes a day after the price was at a low of $23.43.
This jump in price sent solana to its highest point since February 21, and closer to a key resistance level at $26.00. SOL/USD – Daily Chart
Overall, recent gains have pushed the RSI deep into overbought territory, with the index currently tracking at 69.27.
This level is marginally below an upcoming ceiling at 70.00, which has already acted as a hurdle for earlier bulls.
At the time of writing, SOL is currently trading at $25.00, which is relatively lower than its earlier peak.
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Do you expect solana to climb for a sixth day on Friday? Let us know your thoughts in the comments. Eliman Dambell
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: ETH Hits $2,000 Following Shapella Upgrade MARKET UPDATES | 11 hours ago Biggest Movers: SOL Hits 6-Week High, Following US Inflation Data MARKET UPDATES | 1 day ago
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