Dogecoin was consolidating in today’s session after a volatile few days of trading last week. The meme coin surged nearly 30% last Monday, before losing these gains as the week progressed. Shiba inu remained practically unchanged.
Dogecoin (DOGE)
Dogecoin (DOGE) moved marginally higher on Monday, as prices began to settle after recent volatility.
Last Monday, the meme coin jumped nearly 30%, hitting a four-month high in the process.
Since then, prices have turned lower, with the meme coin bottoming at $0.08204 earlier in the session today.
DOGE/USD has reached a high of $0.08383 on Monday, which came as the Relative Strength Index (RSI) approached a top at 55.00.
At the time of writing, the index is at 52.83, which comes after the bulls rejected a break below the bottom at 51.00.
If the RSI moves towards the 55.00 mark, there is a good chance DOGE will trade above $0.0850.
Shiba Inu (SHIB)
Shiba inu (SHIB) was largely unchanged at the start of the week as the meme coin continued to consolidate on Monday.
After a low of $0.00001085 on Sunday, the SHIB/USD rallied to a high of $0.00001099 in today’s session.
As a result of the move, SHIB continues to trade below an interim resistance level of $0.00001100.
Looking at the chart, the price uncertainty comes despite a recent upside cross between the 10-day moving average (red) and its 25-day counterpart (blue).
On top of this, the RSI remains below a key ceiling at 50.00, which seems to be another reason for the current volatility.
For the bulls to regain market sentiment, a break of these levels will need to occur.
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Do you expect the shiba inu to meet this week? Let us know your thoughts in the comments.
image credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com
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