Biggest Movers: SHIB Extends Gains, LINK Hits 5-Week High on Saturday
Shiba inu was a notable mover to start the weekend, as the meme coin rose for a second consecutive session.
The surge comes despite the global crypto market cap mostly consolidating today.
Chainlink also raced higher, hitting a five-week high.
Shiba inu (SHIB) continued to move away from a recent support point
on Saturday, as the price rose for a second straight day.
SHIB/USD peaked at $0.000007391 earlier in the day, which comes
following a low of $0.00000725 the day before. The move saw shiba inu distance itself from a floor of
$0.00000710,
moving closer to a ceiling of $0.00000760 instead.
As the price approaches this point of resistance,
the 10-day (red) moving average also nears an upward cross
with its 25-day (blue) counterpart.
In order to reach this point, bulls will first need to orchestrate a move beyond a ceiling
of 44.00 on the relative strength index (RSI).
Chainlink (LINK)
was another big mover to start the weekend, as the price surged to a multi-week high. After falling to a low
of $6.73 on Friday, LINK/USD jumped to a peak
of $7.13 earlier in today’s session.
As a result of the surge,
chainlink climbed to its strongest point since August 15, when the price peaked
at $7.42. From the chart, it appears that the rally led to a resistance level at
$6.90 being broken, however, price uncertainty has begun to creep in.
LINK is now trading at $7.00, which comes as the RSI struggles to jump over a hurdle at
64.00 on the RSI.
