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Shiba Inu climbed to a two-week high on Tuesday, as bullish sentiment returned to cryptocurrency markets. The meme coin rose by as much as 2% in today’s session, as the global crypto market cap surged by the same amount. BNB was another notable gainer today.
Shiba inu (SHIB) rose to a multi-week high in today’s session, as bullish sentiment returned to cryptocurrency markets.
Following a low of $0.000008759 to start the week, SHIB/USD jumped to a peak of $0.000009067 earlier in the day.
As a result of the move, SHIB climbed to its strongest point since May 10, when price hit a high of $0.00000930.
SHIB/USD – Daily Chart
One of the catalysts of the surge appears to be a breakout which took place on the relative strength index (RSI).
The index moved beyond the ceiling of 40.00, and as of writing is now tracking at 40.83.
Should bulls continue to control sentiment, there is a chance they target an upcoming ceiling of 46.00 on the index.
BNB was another notable gainer on Tuesday, as prices rebounded from a key support level.
BNB/USD rose to an intraday high of $315.21 in today’s session, 24 hours after hitting a low of $309.13.
Overall, this recent run, which has seen BNB climb for two consecutive days, comes after a failed breakout of a floor at $302.00.
BNB/USD – Daily Chart
Due to today’s uptrend, the RSI is now on the verge of colliding with a key resistance of 49.00.
As of writing, the index is tracking at 48.95, with earlier bulls possibly preparing to take profits.
