SHIB trades 10% higher than normal on Saturday due to crypto markets being mainly in green. NEAR also traded higher on Saturday due to prices rising for the third consecutive session. As of this writing, the crypto market is up by 2.73%.
Shiba Inu (SHIB)
SHIB was one notable mover in cryptocurrency markets Saturday as prices rose more than 10% to begin the weekend.
The price of the meme coin rose to an intraday high of $0.00001178 in today’s session, which is the third straight daily gain in SHIB.
As a result of Saturday’s surge, SHIB/USD is now trading nearly 50% higher in the last seven days alone, making it one of the biggest movers within that period.
Looking at the chart, today’s rally has seen prices near this week’s high of $0.00001209, which is the highest the token has hit since May 31.
Should this week’s momentum continue upward, then bulls will likely attempt to recapture this point over the next few days.
The 14-day RSI could be a stumblingblock. It is currently at a resistance level of 56.60. This is its highest point since March.
SHIB bulls could put more pressure on bears currently in the SHIB area, but then this would be a sign that we are likely to see a breach of the ceiling.
Near Protocol (NEAR).
NEAR also saw a big increase on Saturday as bulls increased their gains for the third consecutive session.
The world’s 25th largest crypto token rose to a peak of $4.39 earlier in the day, and this comes as its ceiling at $4.20 was breached.
NEAR rises to its highest level in more than two weeks. Traders are likely focused on taking prices above $5.
If bulls want to recover this level, they will have to get past the $4.75 ceiling.
At the time of writing, the 14 day RSI has reached a 3-month peak. It is also a point where resistance exists and may prevent future price rises.
Is NEAR likely to crack the $5 threshold this weekend? We’d love to hear your comments.
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