SHIB remains close to 2-month high as BCH expands recent gains – market updates Bitcoin news
Shiba inu traded close to a two-month high on Tuesday, despite falling margins marginally from yesterday’s high. At the time of writing, the prices of the meme coin remained high, despite the fact that previous gains were eased. Bitcoin cash was also higher, rising for a seventh straight session.
Shiba Inu (SHIB)
In the wake of yesterday’s rally, which took prices to a two-month high, shiba inu (SHIB) continued to trade close to these levels, despite previous gains.
Meme coin prices reached an intraday high of $ 0.00001243 on Tuesday, which is marginally below Monday’s high above $ 0.00001260.
Today’s move saw the SHIB / USD collide with its long-term resistance level of $ 0.00001240, which had not been broken since mid-May.
After today’s collision, former bulls became bearish and chose to leave their positions to protect past profits.
Looking at the chart, these traders moved to leave these positions as the 14-day RSI moved close to the resistance at 60.70.
The price strength has not moved past this point since March, when SHIB traded close to the $ 0.00002500 region.
Bitcoin Cash (BCH)
Bitcoin cash (BCH) was also in the green in today’s session, as the prices of the token rose for a seventh session in a row.
The token rose to a high intraday of $ 124.46 in today’s session, which is the highest point since June 16.
Tuesday’s rise sees the BCH / USD move closer to a key resistance level of $ 128.30, which has been in place since June 13.
After a low of $ 95 last week, BCH has put together a number of higher peaks, which has led to a significant increase in price strength.
At the time of writing, the index is at 58.05, which is the highest point in three months, when prices traded above $ 300.
Should this current price cap be broken, we will probably see bulls try to take BCH towards the $ 150 point.
Register your email here to receive weekly price analysis updates sent to your inbox:
Do you expect bitcoin money to go past its current resistance this week? Let us know your thoughts in the comments.
Photo credit: Shutterstock, Pixabay, Wiki Commons, Elpisterra / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation 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 liable, directly or indirectly, for any damage or loss caused or alleged to have been caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.
