Biggest Movers: SHIB, DOT Held Near 3-Month Highs Despite Falling Crypto Markets
Shiba Inu (SHIB) was a notable mover on Friday, with prices nearing three-month highs yesterday.
SHIB/USD reached a high of $0.00001291 on Thursday and was its highest and strongest point since November while bulls turned down as they went for profit taking. Yesterday SHIB fell to a low of $0.00001196 as traders exited their positions while the price has since recovered and is currently sitting at $0.00001251. Looking at the charts, Thursday’s decline has definitely pushed SHIB towards the 1st floor of 61.00 on the Relative Strength Index with bulls rejecting a breakout. We can note that at the time of writing this index is definitely tracking a great move at 69.41, which is slightly below the resistance point at 70.00. If we talk about it, then this range at 70.00 will definitely have to be broken first by the token in order to recapture yesterday’s peak.
Polkadot (DOT) also remains bullish in today’s session as the token continues to trade above a key resistance level and continues to hold with it and on Thursday
After giving up a high of $6.84, the coin fell to a low of $6.53 in the following days. We can say that the coin has since rebounded in this situation and it is definitely currently trading at $6.79 at the time of writing, which is slightly below the $6.80 range. Looking at the chart, we can say that the 14-day Relative Strength Index indicator is at a reading of 66.53, and is bullish towards the upper limit of 68.00.
Similar to SHIB, DOT traders will look to break above this point to maintain bullish momentum in the market and if this happens, it is possible that Polkadot could move closer to the $7.00 mark.
