DOGE Hits 1-Month High to Start Weekend – Market Updates Bitcoin News
Dogecoin rose to a one-month high to start the weekend, as markets marginally rebounded on Saturday. The token rose by as much as 10% in today’s session, pushing past a key resistance in the process. Solana was another notable gainer, as it hit an 11-day high.
Dogecoin (DOGE)
Dogecoin was one of Saturday’s most notable moves, as the meme coin rose to a one-month high in the day’s session.
After a low of $0.05974 on Friday, DOGE/USD rallied to an intraday high of $0.06797 to start the weekend.
As a result of today’s surge, the token moved past a key resistance level of $0.06540, rising to its highest point since August 26 in the process.
Looking at the chart, DOGE has fallen from previous highs as the 14-day relative strength index (RSI) collided with a ceiling of its own.
At the time of writing, the index is trading at 56.59, which is marginally below a resistance of 57.00.
Currently, DOGE is trading at $0.06572, which is slightly above the mentioned price ceiling of $0.06540.
Should bulls attempt to push the token back beyond this point, there must first be a breakout in the RSI.
Solana (SOL)
In addition to dogecoin, solana (SOL) was another notable gainer in today’s session, as the token moved closer to a separate resistance level.
SOL/USD rose to a high of $34.70 earlier today, sending prices climbing higher for the third session in a row.
As a result of today’s peak, the world’s ninth largest cryptocurrency climbed to its strongest since September 13.
Bulls now look set to take prices even higher, with a ceiling of $36.50 a possible target, should this week’s momentum continue.
Despite the high level of volatility in the crypto markets this week, SOL is trading over 4% higher from the same time last week.
The 10-day moving average (red) also appears to have crossed against its 25-day (blue) counterpart, which could signal that further gains are in store.
Register your email here to get weekly price analysis updates delivered to your inbox:
Can solana reach $40.00 before the end of the month? Let us know your thoughts in the comments.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for damages or losses caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
