Biggest Movers: SHIB Rebounds on Saturday, as ATOM Moves Away From 3-Week Low

Must read

Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports

Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports Oluwapelumi Adejumo · 11 mins ago · 2...

Coinbase documentary “COIN” to debut Oct. 7

Coinbase documentary “COIN” to debut Oct. 7 Christian Nwobodo · 1 hour ago · 2 min read ...

DOGE up 8% as Elon Musk makes new acquisition offer for Twitter

DOGE up 8% as Elon Musk makes new acquisition offer for Twitter Liam 'Akiba' Wright · 16 mins ago · ...

Riot Blockchain produced over $7.1M worth of BTC in September

Riot Blockchain produced over $7.1M worth of BTC in September Andjela Radmilac · 2 hours ago · 1 min read...

Following three consecutive days of declines, shiba inu rebounded on Saturday, as the meme coin appears to have found a support point. Cosmos was also higher, in what has mostly been a bearish start to the weekend. As of writing, the global crypto market cap is down 1.31%.

Shiba Inu (SHIB)

Shiba inu (SHIB) was back in the green on Saturday, as the token rallied following three straight days of declines.

The world’s twelfth-largest cryptocurrency rose to an intraday peak of $0.00001397 to start the weekend.

This came less than a day after prices of the meme coin were at a low of $0.00001270, which was below a key support point.

SHIB/USD – Daily Chart

Looking at the chart, this price floor was the $0.00001290 mark, however bulls resisted any further declines, pushing SHIB/USD back into the $0.00001300 region.

As of writing, the 14-day relative strength index (RSI) is tracking at 52.13, which is marginally above a floor of 51.44.

Should the index continue to climb, and move towards a ceiling of 58, then we may see SHIB move closer to $0.00001500.

Cosmos (ATOM)

Cosmos (ATOM) was also trading slightly higher to start the weekend, as it too recovered from a recent losing streak.

Saturday saw ATOM/USD race to a high of $11.02, which is over $1.00 higher than yesterday’s bottom below $10.20.

Yesterday’s bearish pressure was not enough to send ATOM below $10.00, with bulls returning to the market, after a brief move below a key support point.

ATOM/USD – Daily Chart

The floor at $10.65 was marginally broken on Friday, however sentiment has since shifted, with some now anticipating a move nearer to a ceiling of $11.55.

As with SHIB, should ATOM bulls want to extend today’s rally, the RSI will need to significantly rise.

Currently the index is tracking at a floor of 48.05, however it would need to move towards a ceiling of 53 for prices to reach the potential target.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect cosmos to hit $11.55 this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More articles

Latest article

Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports

Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports Oluwapelumi Adejumo · 11 mins ago · 2...

Coinbase documentary “COIN” to debut Oct. 7

Coinbase documentary “COIN” to debut Oct. 7 Christian Nwobodo · 1 hour ago · 2 min read ...

DOGE up 8% as Elon Musk makes new acquisition offer for Twitter

DOGE up 8% as Elon Musk makes new acquisition offer for Twitter Liam 'Akiba' Wright · 16 mins ago · ...

Riot Blockchain produced over $7.1M worth of BTC in September

Riot Blockchain produced over $7.1M worth of BTC in September Andjela Radmilac · 2 hours ago · 1 min read...

Crypto giants criticize Twitter on scam, bot accounts impersonating them

Crypto giants criticize Twitter on scam, bot accounts impersonating them Oluwapelumi Adejumo · 2 hours ago · 2 min read...