Biggest Movers: BNB Rebounds From 1-Year Low, SHIB Surges Higher
BNB
BNB, the native token of cryptocurrency exchange Binance, rose by as much as
4% on Wednesday, following recent declines.
After falling to a one-year low of
$204.40 on Tuesday, BNB/USD rose to an intraday peak of
$216.39 earlier today. Wednesday’s rally in price comes following a recent bear run, which saw the token
fall lower for seven of the last nine sessions.
Looking at the chart, the rally coincided with the
14-day relative strength index (RSI) rebounding from a floor
at 21.00. As of writing, price strength is currently tracking at
29.22, which is marginally below a ceiling at
30.00.
In the event that this ceiling is broken, BNB will likely move
above $220.00.
Shiba Inu (SHIB)
Additionally, shiba inu (SHIB)
was also a notable gainer in today’s session, as the meme coin recovered from a
recent price dive.
SHIB/USD slipped to a bottom of
$0.000007744 during yesterday’s session, before moving to a high of
$0.00000832 on hump-day. The rebound saw shiba inu rise from Tuesday’s breakout below a key price floor of
$0.00000790.
Like with BNB above, the move came as the RSI
bounced from a floor of its own around the
40.00 mark, with a current reading of
43.92. As of now, there is a good chance that SHIB bulls are targeting exits around a resistance point of
$0.00000885.
