SHIB, LTC Marginally Higher During Volatile Start to Week – Market Updates Bitcoin News
Shiba inu started the week trading marginally higher, despite cryptocurrencies largely consolidating on February 27. At the time of writing, the global market cap is currently up 0.83% as volatility has intensified. Litecoin also bounced back on Monday, hitting a four-day high.
Shiba Inu (SHIB)
Shiba inu (SHIB) continued to move away from a recent support point to start the week, as prices moved marginally higher on Monday.
After a low of $0.0000124 on Sunday, SHIB/USD rallied to an intraday high of $0.00001307 earlier today.
This move comes as the meme coin bounced off its long-term price floor at the $0.00001230 mark.
Overall, SHIB is down 7% over the past seven days, and this comes after a bearish crossing of the 10-day (red) and 25-day (blue) moving averages.
In addition to this, the 14-day relative strength index (RSI) has also failed to move past a ceiling of 52.00.
The index now trails at 50.44, which comes after bulls rejected a breakout of a 49.00 floor.
Litecoin (LTC)
In addition to SHIB, litecoin (LTC) also climbed higher, hitting a four-day high in the process.
LTC/USD moved to a high of $95.58 to start the week, after ending the weekend trading at a low of $93.79.
As a result of today’s rally, the token is now trading at its strongest point since last week, Thursday.
The first move came after a breakout of a 50.00 resistance point on the RSI indicator.
At the time of writing, the index hovers slightly above this mark, with a current reading of 50.43.
LTC has since fallen, and is now at $94.64, which appears to be the result of price strength tracking near a ceiling.
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