Shibainu was one of the biggest gainers on Friday as the meme coin remained near its recent three-month high. The token has remained in the green for most of today’s session despite a 1.28% drop in the size of the global cryptocurrency market as of this writing. Polkadot also traded higher, continuing to trade above its key price cap.
Shiba Inu (SHIB)
Shiba Inu (SHIB) saw a notable move on Friday, with prices hovering near yesterday’s 3-month highs.
SHIB/USD rose to $0.00001291 on Thursday, the highest since November, but fell as bulls took profits.
SHIB fell to a low of $0.00001196 yesterday as traders abandoned their positions, but prices have since recovered and are currently at $0.00001251.
Looking at the chart, Thursday’s decline pushed the SHIB toward the 61.00 floor of the Relative Strength Index (RSI), but bulls rejected a breakout.
As of this writing, the index is hovering at 69.41, just below the 70.00 resistance point.
For the SHIB to regain yesterday’s peak, it must first break through this 70.00 ceiling.
Polkadot (DOT)
Polkadot (DOT) also maintained bullish momentum in today’s session as the token continued to trade above a key resistance level.
After hitting a high of $6.84 on Thursday, DOT/USD fell to a low of $6.53 later in the day.
The token has since rebounded and is currently trading at $6.79 as of this writing, just below the $6.80 ceiling.
The chart shows that the 14-day RSI indicator has a reading of 66.53 and is rapidly approaching the 68.00 ceiling.
Like the SHIB, DOT traders will have to race through this point to keep the market momentum bullish.
If that happens, the polka dot could approach $7.00.
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