After three straight days of declines, meme coins seemed to find a support point and the Shibas rebounded on Saturday. The cosmos was also higher, making for a mostly bearish start to the weekend. At the time of writing, the global crypto market size is down 1.31%.
Shiba Inu (SHIB)
Shibainu (SHIB) returned to the green on Saturday as tokens rallied after three straight days of declines.
The world’s 12th largest cryptocurrency rose to an intraday peak of $0.00001397 to start the weekend.
This occurred less than a day after the meme coin’s price was at a low of $0.00001270 below a key support point.
The chart shows that this price low was at the $0.00001290 mark, but bulls resisted further declines, pushing SHIB/USD back to the $0.00001300 pushing it back to the $0.00001300 area.
As of this writing, the 14-day Relative Strength Index (RSI) is hovering at 52.13, just above the lower limit of 51.44.
If it continues to rise and head toward the 58 ceiling, the SHIB may approach $0.00001500.
Cosmos (ATOM)
Cosmos (ATOM) also recovered from its recent losing streak and traded slightly higher to start the weekend.
On Saturday,ATOM/USD raced to a high of $11.02, more than $1.00 higher than yesterday’s bottom below $10.20.
Yesterday’s bearish pressure was not enough to sendATOMbelow $10.00 and after a brief move below a key support point, bulls returned to the market.
A slight break above the $10.65 floor on Friday, but sentiment has since changed, with a move near the $11.55 ceiling expected Some have voiced their expectations for a move closer to the $11.55 ceiling.
As with SHIB, bullish sources in theatom69} need the RSI to rise significantly if the atom wants to extend today’s gains.
It is currently at the low end of 48.05, but needs to move toward the high end of 53 to reach its target.
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