SHIB, LTC Rebound from Recent Losses on Saturday – Market Updates Bitcoin News
Shiba inu continued to move away from its recent one-week low on Saturday as the meme coin bounced back to start the weekend. Although the general sentiment remains bearish, prices start the weekend relatively stronger. Litecoin also bounced back in today’s session.
Shiba Inu (SHIB)
Shiba inu (SHIB) saw its price rise marginally higher to start the weekend, breaking out of a resistance level in the process.
SHIB/USD rose to an intraday high of $0.00001324 to start the weekend, less than 24 hours after a low of $0.0000122.
Today’s move saw the meme coin move beyond a price ceiling of $0.00001290, and away from a recent floor of $0.00001160.
However, today’s pullback has lost some momentum, and this comes as the 14-day Relative Strength Index (RSI) failed to move past the 55.00 mark.
At the time of writing, the index follows at 52.55, which is marginally above a support of 51.00
Should price strength continue towards this floor, there is a strong possibility that SHIB could fall below $0.00001200.
Litecoin (LTC)
Litecoin (LTC) rose for a second straight session on Saturday as it also moved away from recent lows.
After falling to a low of $91.37, LTC/USD moved to a high of $94.67 earlier in the day.
Saturday’s rally has seen litecoin break away from its recent support point of $91.40 and it is now possibly heading towards a ceiling of $95.00.
As can be seen from the chart, this started when bulls rejected a move below the 50.00 mark on the RSI, and now apparently could be headed for resistance at 58.00.
A possible obstacle would be the 10-day (red) moving average, which appears to be nearing a crossover with its 25-day (blue) counterpart.
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Can litecoin climb to $95.00 over the weekend? Let us know your thoughts in the comments.
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