Shiba Inu traded near two-month highs on Tuesday, although prices fell slightly from yesterday’s peak. At the time of this writing, meme coin prices remain elevated despite the easing of earlier gains. Bitcoin Cash was also higher, rising for the seventh consecutive session.
SHIB (SHIB)
SHIB continues to move close to these levels, although its upward momentum has slowed after hitting a two-month high yesterday.
The meme coin price hit an intraday high of $0.00001243 on Tuesday, just below Monday’s peak of $0.00001260.
With today’s move, SHIB/USD collided with a long-term resistance level of $0.00001240, which has not been broken since mid-May.
Looking at the chart, these traders moved to abandon their positions as the 14-day RSI moved near resistance at 60.70.
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Since March, when the SHIB was trading near $0.00002500, price strength has not moved beyond this point.
Bitcoin Cash (BCH
Bitcoin Cash (BCH) is also in the green for today’s session as the token’s price rose for the seventh consecutive session.
The token rose to an intraday high of $124.46 in today’s session, the highest since June 16.
Tuesday’s spike seeBCH/USD is approaching a key resistance level at $128.30, which has been in place since June 13.
After last week’s low of $95,BCHhas made a series of higher highs, significantly increasing price strength.
As of this writing, the index is hovering at 58.05, which is the highest it has been in three months when prices were trading above $300.
If this current price ceiling is broken, we will probably see bulls trying to takeBCHBCHtoward the $150 point, which would be a good time for the index to break above $300.
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