Shiba inu started the week trading marginally higher, despite the fact that cryptocurrencies mainly consolidated on February 27. As of this writing, the global market capitalization is currently up 0.83% as volatility has intensified. Litecoin also rallied on Monday, hitting a four-day high.
Shiba Inu (SHIB)
Shiba inu (SHIB) continued to pull away from a recent support point to start the week as prices rallied slightly higher on Monday.
After a low of $0.0000124 on Sunday, SHIB/USD reached an intraday high of $0.00001307 today.
This move comes as the meme coin bounced from its long-term price low at the $0.00001230 mark.
Overall, SHIB is down 7% over the past seven days, and this comes after a lower crossover of the 10-day (red) and 25-day (blue) moving averages.
On top of this, the 14-day RSI has also not broken a ceiling at the 52.00 mark.
The index is now at 50.44, which comes after bulls rejected a bottom break at 49.00.
Litecoin (LTC)
In addition to SHIB, litecoin (LTC) also rose higher, hitting a four-day high in the process.
LTC/USD moved to a high of $95.58 to start the week, after ending the weekend trading as low as $93.79.
As a result of today’s gains, the token is now trading at its strongest point since last week on Thursday.
The initial move came after the break of a resistance point of 50.00 on the RSI indicator.
At time of writing, the index hovers slightly above this mark, with a current reading of 50.43.
LTC it has since declined, and is now at $94.64, which appears to be the result of tracking price strength near a ceiling.
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