SHIB traded up almost 15% during today’s session, with its price approaching its 10-day high. The DOGE coin was also in the green on Wednesday, with prices hitting their highest level since June 12.
SHIB was once again in the green on Wednesday as it continued to dip last week. Over the weekend, the SHIB fell to an intraday low of $0.00000707, which was its lowest point since October 2021. Prices have since picked up strength and hit a high today intraday of $0.000009556.
This is the currency’s highest trading level since June 12, and it comes as the bulls attempt to reclaim a key resistance point.
Looking at the chart, this ceiling appears to be the $0.00001135 point, which hasn’t seen a real break since early May. Overall SHIB sentiment appears to have turned bullish, with relative strength now tracking at its highest point since April.
Since Elon Musk said he would continue to support DOGE despite its recent price declines, the token has seen a steady rise to an intraday high of 0.0668 in today’s session, which is the highest price traded in nine days.
Overall, prices climbed from a low of 0.0494 on Saturday, which was the lowest level in 15 months, to an increase of almost 20%.
However, this momentum may be challenged as the 14-day RSI appears to have hit a key resistance point. This is the high of 44.50, which has not been broken since May 3, when DOGE traded at $0.1330. If this level is broken, then we could see an influx of bulls looking to drive prices back towards this point.
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