SHIB Hits 3-Week High, ATOM Up Over 20% Today – Market Updates Bitcoin News
The Shiba Inu moved to a three-week high on Friday as crypto markets rallied during the day’s session. Markets were mainly in the green as positive sentiment returned to end the week. Cosmos was a notable mover once again, as the token surged over 20% today.
Shiba Inu (SHIB)
Shiba inu (SHIB) rallied during Friday’s session as prices rallied after a recent period of consolidation.
SHIB/USD rose to an intraday high of $0.00001379 on Friday as prices broke out of two consecutive resistance points.
The first ceiling that SHIB rose past was the $0.00001290 level, which has been in place since late August.
After this, the bullish momentum intensified, with the token rising towards another resistance level at $0.00001380.
Overall, shiba inu is now trading at its highest point since August 26, when prices were above $0.00001400.
At the time of writing, some of today’s earlier gains have faded as the relative strength index (RSI) moved closer to a barrier at the 54.00 mark.
Cosmos (ATOM)
Cosmos (ATOM) was higher for a third session in a row as prices rose to a new four-month high this afternoon.
After a rally above the $13.35 ceiling during yesterday’s session, ATOM/USD hit a high of $16.23 earlier today.
Today’s move sees ATOM climb to its highest point since May 7, and comes as the token has now risen nearly 30% over the past two days.
Looking at the chart, the RSI is now tracking 72.23, which is deep in overbought territory.
Overall, price strength is now at its strongest since the start of the year, which could potentially see bears start to re-enter the market.
It has not yet been determined whether ATOM has reached its current peak, or whether this week’s run could be extended into the weekend.
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