SHIB Rebounds on Saturday, as ATOM Moves Away From 3-Week Low – Market Updates Bitcoin News

After three days of consecutive declines, the shiba Inu index rebounded Saturday as the meme coin seems to have reached a support level. Cosmos rose also in what was largely a bearish week. The global crypto market cap has fallen 1.31% as of this writing.

Shiba Inu (SHIB)

After three days of declining numbers, Shiba inu(SHIB), was back in green Saturday as the token rose.

The world’s twelfth-largest cryptocurrency rose to an intraday peak of $0.00001397 to start the weekend.

This occurred less than 24 hours after the price of the meme coin fell to $0.00001270. That was just below the key support point.

SHIB/USD – Daily Chart

This chart clearly shows that the price floor at $0.00001290 was reached. But, the bulls have resisted further falls, pushing SHIB/USD back to $0.00001300.

At the time of writing, relative strength (RSI) for 14 days is at 52.13. That is just marginally higher than the 51.44 floor.

The index could continue climbing and reach a ceiling above 58. If that happens, SHIB may move closer towards $0.00001500.

Cosmos (ATOM)

Cosmos (ATOM), which was trading slightly higher at the start of this weekend after a recent losing streak, also traded up.

Saturday saw ATOM/USD race to a high of $11.02, which is over $1.00 higher than yesterday’s bottom below $10.20.

Yesterday’s bearish pressure was not enough to send ATOM below $10.00, with bulls returning to the market, after a brief move below a key support point.

ATOM/USD – Daily Chart

On Friday, the $10.65 floor was only slightly broken. However, sentiment has changed. Some now anticipate a shift closer to a $11.55 ceiling.

As with SHIB, should ATOM bulls want to extend today’s rally, the RSI will need to significantly rise.

At the moment, the index tracks at a floor level of 48.05. However, it will need to climb towards a ceiling level of 53 in order to achieve the target price.

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What do you think the cost of cosmos will be this weekend at $11.55? We’d love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.

Credits for the imageShutterstock. Pixabay. Wiki Commons

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