https://ift.tt/NMiguQd Following three consecutive days of declines, shiba inu rebounded on Saturday, as the meme coin appears to have fou...
Following three consecutive days of declines, shiba inu rebounded on Saturday, as the meme coin appears to have found a support point. Cosmos was also higher, in what has mostly been a bearish start to the weekend. As of writing, the global crypto market cap is down 1.31%.
Shiba Inu (SHIB)
Shiba inu (SHIB) was back in the green on Saturday, as the token rallied following three straight days of declines.
The world’s twelfth-largest cryptocurrency rose to an intraday peak of $0.00001397 to start the weekend.
This came less than a day after prices of the meme coin were at a low of $0.00001270, which was below a key support point.
Looking at the chart, this price floor was the $0.00001290 mark, however bulls resisted any further declines, pushing SHIB/USD back into the $0.00001300 region.
As of writing, the 14-day relative strength index (RSI) is tracking at 52.13, which is marginally above a floor of 51.44.
Should the index continue to climb, and move towards a ceiling of 58, then we may see SHIB move closer to $0.00001500.
Cosmos (ATOM)
Cosmos (ATOM) was also trading slightly higher to start the weekend, as it too recovered from a recent losing streak.
Saturday saw ATOM/USD race to a high of $11.02, which is over $1.00 higher than yesterday’s bottom below $10.20.
Yesterday’s bearish pressure was not enough to send ATOM below $10.00, with bulls returning to the market, after a brief move below a key support point.
The floor at $10.65 was marginally broken on Friday, however sentiment has since shifted, with some now anticipating a move nearer to a ceiling of $11.55.
As with SHIB, should ATOM bulls want to extend today’s rally, the RSI will need to significantly rise.
Currently the index is tracking at a floor of 48.05, however it would need to move towards a ceiling of 53 for prices to reach the potential target.
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Do you expect cosmos to hit $11.55 this weekend? Let us know your thoughts in the comments.
from Bitcoin News
via RiYo Analytics
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