Biggest Movers: SHIB, DOT Nearly 30% Higher, as SOL Also Surges

Biggest Movers: SHIB, DOT Nearly 30% Higher, as SOL Also Surges

Cryptocurrency markets were mostly in the green on Friday, as DOT was up by nearly 40%, moving away from an 18-month low. Although SOL, AVAX, and MATIC all rose by over 20%, it was SHIB that was one of the standout gainers in today’s session. Polkadot (DOT)

DOT was one of today’s biggest gainers, as it climbed by nearly 40% during Friday’s stretch, moving away from recent lows in the process.

On Friday, DOT/USD surged to a peak of $11.73, which comes less than 24 hours after it hit a low of $7.04

This bottom was the lowest level DOT has reached since January 2021, and came as prices fell for eight of the last nine days. DOT/USD – Daily Chart

Today’s rally commenced as prices jumped from a now support level of $8.50, climbing by as much as 38% to its intraday high.

Despite the rise, the 14-day RSI is still marginally oversold, and currently tracks at the 37.87 level, which is just below a ceiling of 40.

Should we see this ceiling broken, then we will see the price resistance of $12.50 also give way.

Shiba Inu (SHIB)

While SOL, MATIC, and AVAX were all trading by as much as 20% higher on Friday, it was a meme coin which was today’s most notable secondary mover.

SHIB was easily one of today’s biggest gainers, as it too rallied away from recent lows, following this week’s crypto sell-off.

Following a low of $0.00001041 on Thursday, shiba inu rose to an intraday peak of $0.00001426 to end the week. SHIB/USD – Daily Chart

Today’s move saw SHIB/USD move away from a recent eight-month low, as prices look to stabilize in the aftermath of recent declines.

Looking at the chart, the rally came as the 14-day RSI moved past a resistance level of 33.60, and is now tracking above 35.

The next notable ceiling is at the 40 mark, which may test bullish pressure, with some likely to use it as an opportunity to exit, while securing gains. Tags in this story Analysis, AVAX, DOT, shib, SOL

Will today’s crypto rally extend into the weekend? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH, BTC Surge Over 10% as Big 2 Lead Crypto Rebound MARKET UPDATES | 8 hours ago Biggest Movers: AXS Jumps Over 20%, as MATIC Falls to 13-Month Low MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous article‘A Dark Day for Crypto’ — A Deep Dive Into the Obliterated Terra Token Ecosystem and Damaged Apps Next articleFollowing French Montana, Vietnam’s Number 1 Celebrity Singer Son Tung M-TP Joins RACA’s USM Metaverse 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 ItUAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse

United Arab Emirates (UAE) airliner, Emirates, has announced plans to launch non-fungible tokens (NFT) and experiences in the metaverse for its workers and customers. The launch aligns with UAE"s digital economy and virtual assets initiatives. First Projects Already Underway The ... read more.Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether