Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains

Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains

Shiba inu was one of Friday’s biggest gainers, as the meme coin raced to a six-week high. The move came as the global cryptocurrency market cap surged, as U.S. inflationary pressures continued to cool off. Ethereum classic was also in the green, with price hitting a two-month high. Shiba Inu (SHIB)

Shiba inu (SHIB) was one of Friday’s notable movers, as the meme coin moved to a six-week high.

Following a low of $0.000009227 on Thursday, SHIB/USD raced to an intraday peak of $0.000009711 earlier in today’s session.

As a result of today’s surge, the meme coin hit its highest point since December 5, when it traded as high as $0.00001016.

Looking at the chart, the move came as shiba inu climbed beyond a ceiling at the $0.00000945 mark. SHIB/USD – Daily Chart

In addition to this, the 14-day relative strength index (RSI) moved past a ceiling of its own at 68.00.

As of writing, the index is tracking at 71.74, which is deep in overbought territory. Ethereum Classic (ETC)

Ethereum classic (ETC) was another big gainer in today’s session, with prices moving closer to a two-month high.

ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours after hitting a bottom at $20.02.

This move pushed the token to its strongest level since November 10, when ETC hit a resistance of $23.00. ETC/USD – Daily Chart

As can be seen from the chart, bulls appear to be attempting to take ethereum classic back to this point, if recent bullish momentum can be sustained.

This will likely be made difficult by a resistance level of 67.00 on the RSI, which hasn’t been broken since last August.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, ETC, Ethereum Classic, shib, shiba inu

Do you expect to see ethereum classic hit $23.00 in the coming days? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: BTC Hits 2-Month High, Climbing Above $19,000 MARKET UPDATES | 11 hours ago Biggest Movers: AVAX 22% Higher, as DOT Nears 1-Month High MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS Next articleNexo Bitcoin Withdrawals Surge Following Raid of Bulgarian Offices Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"

Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design