Dogecoin rallied to a one-month high to start the weekend, as markets marginally rebounded on Saturday. The token rose by as much as 10% in today’s session, racing past a key resistance in the process. Solana was another notable gainer, as it hit an 11-day high.
Dogecoin was one of Saturday’s most notable movers, as the meme coin rose to a one-month high in today’s session.
Following a low of $0.05974 on Friday, DOGE/USD rose to an intraday peak of $0.06797 to start the weekend.
As a result of today’s surge, the token moved past a key resistance level of $0.06540, rising to its highest point since August 26 in the process.
Looking at the chart, DOGE has slipped from earlier highs, as the 14-day relative strength index (RSI) collided with a ceiling of its own.
As of writing, the index is currently tracking at 56.59, which is marginally below a resistance of 57.00.
Currently DOGE is trading at $0.06572, which is slightly above its aforementioned price ceiling of $0.06540.
Should bulls attempt to push the token back beyond this point, there will need to be a breakout first within the RSI.
In addition to dogecoin, solana (SOL) was another notable gainer in today’s session, as the token moved closer to a resistance level of its own.
SOL/USD surged to a high of $34.70 earlier today, which saw prices climb higher for a third consecutive session.
As a result of today’s peak, the world’s ninth largest cryptocurrency climbed to its strongest point since September 13.
Bulls now look set to take prices even higher, with a ceiling of $36.50 a possible target, should this week’s momentum continue.
Despite the high level of volatility in crypto markets this week, SOL is trading over 4% higher from the same point last week.
The moving average of 10-day (red) also appears to have crossed versus its 25-day (blue) counterpart, which could signal that further gains are ahead.
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Could solana hit $40.00 before the end of the month? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
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