Skip to main content

Biggest Movers: SHIB Bounces From Key Price Floor, Climbing to 1-Week High

Shiba inu was trading over 10% higher during Thursday’s session, as the token rallied to a one-week high. Following a week’s worth of consolidation, the meme coin bounced from a key support level, moving closer to a resistance point of $0.00001500. Ethereum classic was also in the green, climbing for a fifth consecutive session.

Shiba Inu (SHIB)

Shiba inu (SHIB) surged by as much as 10% on Thursday, pushing the meme coin to its highest point in over a week.

Following almost seven days of consolidating near its floor of $0.00001290, SHIB/USD rose to a high of $0.00001475 earlier in today’s session.

The move saw the token break out of a recent resistance point at $0.00001400, on its way to its highest point since August 18.

Looking at the chart, it appeared that bulls were targeting a higher ceiling at $0.00001510, however there was significant pushback from bears.

As of writing, SHIB is now trading at $0.00001419, as earlier gains have eased, with the 10-day (red) moving average continuing to move closer to its 25-day (blue) counterpart.

Although the token is still trading above the $0.00001400 resistance level, should bearish momentum persist, we will likely see a retreat below this point.

Ethereum Classic (ETC)

Ethereum classic (ETC) was also higher in today’s session, as it moved back towards the $40.00 region.

ETC was also likely higher on Thursday as a result of today’s news surrounding the The Merge event, leading the token to extend recent gains.

Similar to SHIB, today’s move sees ETC/USD surge by 10%, hitting an intraday high of $37.46 in the process.

The token has now climbed higher for five straight days, which began when prices rallied from its support point of $31.

During this run, the 14-day relative strength index rose from its own floor at 43.50, and as of writing is tracking at 56.37.

The index looks to be heading for a higher ceiling at 60.00, and should it hit this point, ETC will likely be trading at or above $40.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Will we see more gains in ethereum classic ahead of The Merge? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/gdGZuzt
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more