Bitcoin

Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains

Shiba inu was one of Friday’s biggest gainers, as the meme coin raced to a six-week high. The move came as the global cryptocurrency market cap surged, as U.S. inflationary pressures continued to cool off. Ethereum classic was also in the green, with price hitting a two-month high.

Shiba Inu (SHIB)

Shiba inu (SHIB) was one of Friday’s notable movers, as the meme coin moved to a six-week high.

Following a low of $0.000009227 on Thursday, SHIB/USD raced to an intraday peak of $0.000009711 earlier in today’s session.

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.

Looking at the chart, the move came as shiba inu climbed beyond a ceiling at the $0.00000945 mark.

Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains
SHIB/USD – Daily Chart

In addition to this, the 14-day relative strength index (RSI) moved past a ceiling of its own at 68.00.

As of writing, the index is tracking at 71.74, which is deep in overbought territory.

Ethereum Classic (ETC)

Ethereum classic (ETC) was another big gainer in today’s session, with prices moving closer to a two-month high.

ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours after hitting a bottom at $20.02.

This move pushed the token to its strongest level since November 10, when ETC hit a resistance of $23.00.

Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains
ETC/USD – Daily Chart

As can be seen from the chart, bulls appear to be attempting to take ethereum classic back to this point, if recent bullish momentum can be sustained.

This will likely be made difficult by a resistance level of 67.00 on the RSI, which hasn’t been broken since last August.

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Do you expect to see ethereum classic hit $23.00 in the coming days? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.




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