Shiba inu hit a three-week high on Friday as crypto markets rallied in today’s session. Markets were mainly green as bearish sentiment returned over the weekend. Cosmos was once again a prominent mover as the token surged over 20% today.
Shiba Inu (SHIB)
Shiba Inu (SHIB) bounced back in Friday’s session, showing gains following a recent period of consolidation.
SHIB/USD rose to $0.00001379 on Friday as prices broke out of two consecutive resistance points.
The first ceiling that SHIB passed is the $0.00001290 level, which has been since the end of August.
Following this, bullish momentum increased, with the signal rising to another resistance level at $0.00001380.
Overall, Shiba Innu has been trading at its highest level since August 26, when its price was above $0.00001400.
As of writing, some of today’s early gains have eased, with the Relative Strength Index (RSI), nearing a barrier at the 54.00 mark.
Cosmos (ATOM)
Cosmos (ATOM) was higher for a third straight session as prices hit a new four-month high this afternoon.
Following a rally above the $13.35 ceiling in yesterday’s session, ATOM/USD rose to $16.23 earlier today.
Today’s move sees ATOM climb to its highest level since May 7, with the token now up nearly 30% over the past two days.
Looking at the chart, the RSI is currently tracking at 72.23, which is in overbought territory.
Overall, price strength is now at its strongest level since the beginning of the year, which could cause bears to re-enter the market.
It has yet to be determined if ATOM will reach its current status or if this week’s run will be extended into the weekend.
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