Biggest Movers: SHIB Remains Near 3-Month High, Whilst LEO Hits 2-Week High 

Biggest Movers: SHIB Remains Near 3-Month High, Whilst LEO Hits 2-Week High 

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by Eliman Dambell
Shiba inu remained near a three-month excessive to start out the week, after breaking out of a key resistance degree over the weekend. The surge of the meme coin got here regardless of the crypto market principally being within the crimson on Monday. One other token that rose throughout in the present day’s bearish session was unus sed leo, which hit a two-week excessive.
Shiba inu (SHIB) was a notable gainer to start out the week, because the meme coin remained close to to a three-month excessive.
Following an intraday excessive of $0.00001790 on Sunday, SHIB/USD rallied to a peak of $0.00001774 earlier in in the present day’s session.
The preliminary surge got here as SHIB broke out of a key value ceiling of $0.00001290, which had been holding agency since Might 11.
Trying on the chart, this got here because the 14-day relative energy index (RSI) rose above its personal resistance at 62.40.
After surging above this level, the index hit a excessive of 83.24, which is its strongest studying since October 2021.
Since this peak, the RSI has moved marginally decrease, and as of writing is monitoring at some extent of 74.18.
General, it seems as if SHIB bulls have deserted their earlier positions, on account of costs turning into overbought.
Along with SHIB, unus sed leo (LEO) was one other huge mover in in the present day’s session, with it climbing to its highest level in two weeks.
LEO/USD raced to an intraday excessive of $5.35 to start out this week’s session, as bulls tried to interrupt a resistance degree of $5.40.
At present’s peak comes because the token rose for a fifth consecutive session, and in flip hit its highest level since July 29.
Just like shiba inu earlier, the RSI indicator on LEO additionally climbed, shifting previous its personal ceiling of 48.90.
As of writing, the index is now monitoring at a peak of 58.72, which is its highest degree since July 7.
Ought to bulls try to interrupt the $5.40 level, then value energy might want to proceed to climb, and transfer past the 60 mark.
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Tags on this story
Analysis, LEO, shib, shiba inu, Unus Sed Leo

Will in the present day’s bearish session prolong into the rest of the week? Tell us your ideas within the feedback.
Eliman brings a eclectic perspective to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.

Picture Credit: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com
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