Shiba inu moved to a five-week excessive throughout Tuesday’s session, regardless of cryptocurrency markets largely consolidating. As of writing, the worldwide crypto market cap is buying and selling 0.20% decrease, nonetheless the meme coin is up by almost 5%. Apecoin additionally surged in right this moment’s session, because it rose to its strongest level since November.
Shiba Inu (SHIB)
Shiba inu (SHIB) was certainly one of Tuesday’s notable gainers, as costs of the token rose for a sixth straight session.
SHIB/USD surged to an excessive of $0.000009593 earlier within the day, which comes lower than 24 hours after buying and selling at a low of $0.000008603.
Because of this newest surge in worth, shiba inu climbed to its highest level since December 5.
From the chart, it seems as if right this moment’s rally got here following an upwards crossover of the 10-day (purple) and 25-day (blue) transferring averages.
Along with this, the 14-day relative power index (RSI) has risen above a current ceiling at 65.50.
At present, the index is monitoring at 67.50, with the subsequent seen ceiling on the 73.00 zone.
Apecoin (APE)
Apecoin (APE) was one other huge mover in right this moment’s session, extending current positive factors to a fifth consecutive day.
Following a low of $4.50 to start out the week, APE/USD raced to an intraday peak of $4.98 earlier within the day.
The transfer pushed apecoin to its highest degree since November 5, and got here following a breakout of a worth ceiling at $4.60.
Because of right this moment’s surge, the RSI on the APE chart is now at its strongest level on report, with a studying of 79.09.
Which means costs are actually deep in overbought territory, which might imply that bears are getting ready for reentry.
Regardless of this potential reversal, bulls are seemingly nonetheless focusing on a ceiling at $5.30, which hasn’t been hit since October 11.
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