Shiba inu moved to a five-week high during the session on Tuesday, despite the cryptocurrency markets mostly consolidating. At the time of writing, the global crypto market cap is trading 0.20% lower, yet the meme coin is up nearly 5%. Apecoin also rose in today’s session as it hit its strongest point since November.
Shiba Inu (SHIB)
Shiba inu (SHIB) was one of the notable gainers on Tuesday, as token prices surged for the sixth session in a row.
SHIB/USD rose to a high of $0.000009593 earlier in the day, which comes less than 24 hours after trading as low as $0.000008603.
As a result of this latest price increase, the shiba inu rose to its highest point since December 5th.
On the chart, it looks like today’s rally came after an upside crossover of the 10-day (red) and 25-day (blue) moving averages.
Adding to this, the 14-day RSI has rallied above a recent high at 65.50.
Currently, the index is at 67.50, with the next top visible in the 73.00 zone.
Apecoin (APE)
Apecoin (APE) was another big move in today’s session, extending recent gains to a fifth day in a row.
After a low of $4.50 at the start of the week, APE/USD hit an intraday high of $4.98 earlier in the day.
The move sent apecoin to its highest level since November 5 and came after a breakout of a price high of $4.60.
As a result of today’s rise, the RSI on the APE chart is now at its strongest point on record, reading 79.09.
This means that prices are now in overbought territory, which could mean that the bears are preparing for a re-entry.
Despite this potential reversal, the bulls are apparently still targeting a $5.30 ceiling, which has not been reached since Oct. 11.
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Could apecoin rally to reach $5.30 during the month of January? Let us know your thoughts in the comments.
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