Shiba inu was trading close to a two-month high on Tuesday, despite prices marginally falling from yesterday’s peak. The meme coin’s prices were still high at the time of writing, even though earlier gains had dwindled. Bitcoin cash also rose for the seventh session in a row.
Shiba Inu (SHIB)
Following on from yesterday’s rally which took prices to a two-month peak, shiba inu (SHIB) continued to trade close to these levels, despite earlier gains easing.
Prices of the meme coin hit an intraday high of $0.00001243 on Tuesday, which is marginally below Monday’s peak above $0.00001260.
Today’s move saw SHIB/USD collide with its long-term resistance level at $0.00001240, which hadn’t been broken since mid-May.
After today’s collision, earlier bulls turned bearish, and opted to exit their positions in order to protect earlier profits.
The chart shows that these traders abandoned their positions when the 14-day RSI drew near to its resistance of 60.70.
Since March when SHIB traded in the $0.00002500 area, price strength has not been above this level.
Bitcoin Cash (BCH).
Bitcoin cash (BCH) was also in the green in today’s session, as prices of the token rose for a seventh consecutive session.
The token rose to an intraday high of $124.46 in today’s session, which is its highest point since June 16.
Tuesday’s surge sees BCH/USD move closer to a key resistance level of $128.30, which has been in place since June 13.
BCH is now at a string of high highs after falling to $95 last week. This has led to an increase in the price strength.
The index currently tracks at 58.05 as of this writing. This is the highest level since March, when prices traded above $300.
Bulls may attempt to push BCH towards $150 if the price ceiling is breached.
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What do you think about bitcoin cash moving past the resistance it is currently at this point? Please share your views with us in the comments.
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