Solana surged by as much as 30% on Saturday, setting a fresh multi-month high in the process. The move comes as cryptocurrency markets were significantly bullish to start the weekend, with the global market cap 8.28% higher as of writing. Shiba inu was trading at its strongest point since November.
Biggest Movers: SHIB Hits 6-Week High, Whilst SOL Extends Recent Gains
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Solana ( SOL)
Solana ( SOL) was easily one of the biggest movers to start the weekend, with prices skyrocketing by as much as 30%.
Following a low of $16.52 yesterday, SOL/USD surged to an intraday high of $22.37 earlier today.
As a result of today’s rally the token hit its strongest point since November 9, when price was at a top of $24.60.
From the chart, the move commenced after yet another burst beyond a resistance point on the 14-day relative strength ( RSI).
On this occasion, the index moved above a ceiling at the 80.00 level, and is now tracking at 85.44.
Although solana bulls will have their eyes set on $25.00, there could be a cooling off of the earlier rally as the day matures.
Shiba Inu ( SHIB)
Shiba inu ( SHIB) was once again a notable gainer in crypto markets, as the meme coin rose by over 10% today.
SHIB/USD hit a peak of $0.00001081 to start the weekend, after ending the working week at a low of $0.000009462.
Like with solana above, this resulted in prices climbing to their highest level since early November.
Overall, shiba inu has now risen for a third consecutive session, and is up 24% in the last seven days.
Earlier gains have already begun to show signs of easing, with price now trading at $0.00001039.
This comes after the RSI failed to break out of its long-term resistance point at the 80.00 mark.
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Do you expect cryptocurrencies to remain bullish throughout the weekend? Let us know your thoughts in the comments.
