Following a 12% decline yesterday, shiba inu ( SHIB) rose by that same percentage today, as bulls once again boarded the rocket ship. This comes as prices of FLOW were also higher during the session.
Technical Analysis: Flow Moves Higher, as SHIB Climbs 12%
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Biggest gainers
Price movement in SHIB continues to be volatile, with the meme coin rising by as much as 60% in the last week.
However, it was FLOW that secured the title bull of the day, as it rose by as much as 20% in today’s session.
FLOW/USD, which was trading at a low of $7.01 on Tuesday, climbed to an intraday high of $8.52 earlier today.
This move saw FLOW once again hit its long-term resistance level of $8.25, a level which has been in place for the majority of this year so far.
This recent surge led to price strength moving into overbought territory, with a current reading of 65, which is its highest level since August 29.
With prices not only overbought but also trading at resistance, today’s rise which currently stands at 17.87%, may be approaching its end.
Biggest losers
There seems to be a trend forming, where one day’s biggest bull turns out to be the biggest bear the very next day.
Following a 50% rise on Monday, SHIB fell by double digits yesterday, and now LEO has followed this pattern today.
LEO/USD, which hit a high of $7.70 on Tuesday, fell to an intraday low of $6.68 during the course of today’s session.
The move appears to have begun at what appears to be a short-term ceiling of $7.66, and comes as price strength also reversed.
After such a rapid rise in value yesterday, it was inevitable that profit-takers would look to secure winnings.
Has the tide already turned on LEO, or will we see further rises this week? Let us know your thoughts in the comments.
