Shiba inu was a notable mover to start the weekend, as the meme coin rose for a second consecutive session. The surge comes despite the global crypto market cap mostly consolidating today. Chainlink also raced higher, hitting a five-week high.
Biggest Movers: SHIB Extends Gains, LINK Hits 5-Week High on Saturday
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Shiba Inu ( SHIB)
Shiba inu ( SHIB) continued to move away from a recent support point on Saturday, as the price rose for a second straight day.
SHIB/USD peaked at $0.000007391 earlier in the day, which comes following a low of $0.00000725 the day before.
The move saw shiba inu distance itself from a floor of $0.00000710, moving closer to a ceiling of $0.00000760 instead.
As the price approaches this point of resistance, the 10-day (red) moving average also nears an upward cross with its 25-day (blue) counterpart.
In order to reach this point, bulls will first need to orchestrate a move beyond a ceiling of 44.00 on the relative strength index ( RSI).
At the time of writing this, price strength is tracking at 42.46.
Chainlink (LINK)
Chainlink (LINK) was another big mover to start the weekend, as the price surged to a multi-week high.
After falling to a low of $6.73 on Friday, LINK/USD jumped to a peak of $7.13 earlier in today’s session.
As a result of the surge, chainlink climbed to its strongest point since August 15, when the price peaked at $7.42.
From the chart, it appears that the rally led to a resistance level at $6.90 being broken, however, price uncertainty has begun to creep in.
LINK is now trading at $7.00, which comes as the RSI struggles to jump over a hurdle at 64.00 on the RSI.
Register your email here to get weekly price analysis updates sent to your inbox:
What do you think about chainlink’s market action this weekend? Let us know your thoughts in the comments section below.
