SHIB rebounds on Saturday, as ATOM moves away from 3-week low – Market Updates Bitcoin News
After three consecutive days of decline, the shiba inu bounced back on Saturday as the meme coin appears to have found a support point. Cosmos were also higher, in what has largely been a bearish start to the weekend. At the time of writing, the global crypto market cap is down 1.31%.
Shiba Inu (SHIB)
Shiba inu (SHIB) was back in the green on Saturday, as the token rose after three consecutive days of decline.
The world’s twelfth largest cryptocurrency rose to an intraday high of $0.00001397 to start the weekend.
This came less than a day after meme coin prices hit a low of $0.00001270, which was below a key support point.
Looking at the chart, this price floor was the $0.00001290 mark, but bulls resisted further declines, pushing SHIB/USD back to the $0.00001300 region.
At the time of writing, it follows the 14-day relative strength index (RSI) of 52.13, which is marginally above a floor of 51.44.
Should the index continue to climb and move towards a ceiling of 58, we could see SHIB moving closer to $0.00001500.
Cosmos (ATOM)
Cosmos (ATOM) also traded slightly higher to start the weekend as it also recovered from a recent losing streak.
On Saturday, ATOM/USD rallied to a high of $11.02, which is over $1.00 higher than yesterday’s low of under $10.20.
Yesterday’s bearish pressure was not enough to send ATOM below $10.00, with bulls returning to the market, after a brief move below a key support point.
The floor of $10.65 was marginally breached on Friday, but sentiment has since changed, with some now expecting a move closer to a ceiling of $11.55.
As with the SHIB, if ATOM bulls want to extend today’s rally, the RSI will need to rise significantly.
Currently, the index is following a floor of 48.05, but it needs to move towards a ceiling of 53 for prices to reach the potential target.
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Do you expect cosmos to reach $11.55 this weekend? Let us know your thoughts in the comments.
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