Shibauhin was one of the biggest gainers on Friday as the meme coin hit a six-week high. The move was attributed to a surge in the size of the global cryptocurrency market as U.S. inflationary pressures continue to cool. Ethereum Classic was also in the green, with prices hitting a two-month high.
Shiba Inu (SHIB)
Shibainu (SHIB) was one of Friday’s notable moves, with the meme coin moving to a six-week high.
After hitting a low of $0.000009227 on Thursday, SHIB/USD ran up to an intraday peak of $0.000009711 earlier in the session today.
As a result of today’s surge, the meme coin hit its highest point since December 5, when it traded as high as $0.00001016.
The chart shows this move as the Shibabu rose above the $0.00000945 ceiling.
In addition to this, the 14-day relative strength index (RSI) moved above its own ceiling at 68.00.
At the time of this writing, it is at 71.74, deep in overbought territory.
Ethereum Classic (ETC)
Ethereum Classic (ETC) was another big gainer in today’s session, with prices approaching two-month highs.
ETC/USD rose to an early morning high of $21.76, less than 24 hours after bottoming at $20.02.
This move pushed the token to its strongest level since November 10, whenhit resistance; ETC hit resistance at $23.00.
As you can see from the chart, it looks like the bulls are trying to get the Ethereum Classic back to this point if the recent bullish momentum is maintained.
This will likely be made difficult by the 67.00 resistance level on the RSI, which has not been broken since last August.
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