SHIB, LTC Recover From Recent Losses on Saturday – Market Updates
Shiba Inu moved further away from its recent one-week low on Saturday, the meme reports, coin rallied to start the weekend. Although the overall mood remains pessimistic, prices start the weekend relatively stronger. Also Litecoin recovered in today’s session.
Shiba Inu (SHIB)
Shiba inu (SHIB) saw a marginally higher rally early in the weekend, breaking above a resistance level in the process.
SHIB/USD surged to an intraday high of $0.00001324 earlier in the weekend, less than 24 hours from its low of $0.0000122.
Today’s move saw the meme coin move above a price cap of $0.00001290 and away from a recent floor at $0.00001160.
However, today’s recovery has lost some momentum and this is as the relative strengthindex (RSI) failed to surpass the 55.00 level for 14 days.
At the time of writing, the index is trading at 52.55, which is slightly above a support at 51.00
If the price strength persists towards this floor, there are strong chances that SHIB could drop below $0.00001200.
Litecoin (LTC)
Litecoin (LTC) surged for a second straight session on Saturday as it also moved away from recent lows.
After falling to a low of $91.37, LTC/USD moved to a high of $94.67 earlier in the day.
Saturday’s surge has seen Litecoin move away from its recent support point at $91.40 and is now potentially heading for a cap at $95.00.
As can be seen from the chart, this started when the bulls rejected a move below the 50.00 level on the RSI and now seemingly to the Resistance heading at 58.00.
A possible obstacle will be the 10-day moving average (red), which appears to be approaching a crossover with its 25-day counterpart (blue).
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Could Litecoin Surge to $95.00 Over the Weekend? Let us know your thoughts in the comments.
photo credit: Shutterstock, Pixabay, WikiCommons
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Source: Crypto News Deutsch
