Skip to main content

Biggest Movers: SHIB Surges to 2-Week High on Friday, Whilst TRX Extends Gains

Biggest Movers: SHIB Surges to 2-Week High on Friday, Whilst TRX Extends Gains

Shiba inu was a notable gainer on Friday, climbing to a two-week high during today’s session in the process. The move came as the meme coin rose by as much as 6%, despite the global crypto market cap mostly consolidating. Tron rose for a fourth straight session today.

Shiba Inu (SHIB)

Shiba inu (SHIB) rallied to a two-week high on Friday, after breaking out of a key resistance level.

SHIB/USD surged to a peak of $0.000008217 earlier in today’s session, following Thursday’s low at $0.000007754.

Friday’s move came as shiba inu broke out of a key resistance level at the $0.000008000 mark, hitting its highest point since June 15 in the process.

Another reason for today’s action appears to be the relative strength index (RSI) moving above a ceiling at 55.00.

Currently, price strength is tracking at the 60.09 level, which is marginally below a ceiling at 61.00.

Should bulls manage to race past this point, there is a good chance the next target price will be $0.000008500.

Tron (TRX)

Tron (TRX) extended a recent bull run for a fourth day, with today’s move taking the token to its highest point since last Sunday.

Following a low of $0.08221 on Thursday, TRX/USD climbed to an intraday high of $0.08417 earlier in today’s session.

Tron bulls appear to be targeting a resistance level at $0.0860, which was last hit during last Saturday’s peak of $0.0943.

Since hitting that 20-month high TRX has mostly consolidated, however bullish momentum seems to be gradually returning.

This comes after the relative strength index (RSI) moved beyond a ceiling of its own at 63.00, and is now tracking at 64.84.

If current sentiment remains, TRX could reach $0.0860 in the coming days.

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

What is behind tron’s recent bull run? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/t9FP1LM
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more