The meme coin increased for a second straight session as Shiba Inu was a noteworthy mover to kick off the weekend. Despite the global crypto market cap largely consolidating today, the rise nevertheless occurs. In addition, Chainlink surged and reached a five-week high.
Shiba Inu (SHIB)
On Saturday, the price of Shiba Inu (SHIB) increased for a second straight day as it continued to move away from a recent support level.
SHIB/USD reached a high of $0.000007391 earlier in the day, rising from a day earlier low of $0.00000725.
Shiba Inu made the adjustment by moving away from a floor of $0.00000710 and toward a ceiling of $0.00000760.
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| SHIB/USD--Daily Chart |
The 10-day moving average (red) and its 25-day moving average (blue) are getting close to an upward cross as the price moves toward this area of resistance.
Bulls must first engineer a move past the relative strength index (RSI) ceiling of 44.00 in order to get to this position.
Price strength is tracking at 42.46 as of this writing.
Chain link (LINK)
Another significant mover to kick off the weekend was Chainlink (LINK), whose stock soared to a multi-week high.
LINK/USD surged to a high of $7.13 early in today's session after hitting a low of $6.73 on Friday.
The increase caused chainlink to reach its highest elevation since August 15, when the price reached a high of $7.42.
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| LINK/USD--Daily Chart |
Although it looks from the chart that the rally caused a resistance level at $6.90 to be breached, price uncertainty has started to set in.
LINK is currently trading at $7.00 as the RSI tries to clear a barrier at 64.00 on the RSI.
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