• Shiba Inu (SHIB) and Litecoin (LTC) both rebounded from recent lows on Saturday.
• SHIB/USD rose to an intraday peak of $0.00001324, while LTC/USD moved to a high of $94.67 earlier in the day.
• The relative strength index (RSI) could be an obstacle for SHIB, while LTC is potentially heading for resistance at $95.00.
Biggest Movers: SHIB, LTC Rebound From Recent Losses
Saturday saw both Shiba Inu (SHIB) and Litecoin (LTC) rebound from recent losses, with prices starting the weekend relatively stronger than expected. Although overall sentiment remains bearish, the coins have seen some respite from their current bear market.
Shiba inu (SHIB) saw its price climb marginally higher to start the weekend, breaking out of a resistance level in the process. SHIB/USD rose to an intraday peak of $0.00001324 to start the weekend, less than 24 hours after bottoming out at $0.0000122. Today’s move saw the meme coin move beyond a price ceiling of $0.00001290, and away from a recent floor at $0.00001160.
However, today’s rebound has somewhat lost momentum as the relative strength index (RSI) of 14 days failed to move beyond the 55 mark; it is currently tracking at 52.55 which is marginally above a support at 51 levels should price strength continue toward this floor there is a strong possibility that SHIB could fall below $0.00001200 levels over time if not sustained by bulls soon enough .
Litecoin also rebounded in today’s session with its price rising for a second straight session on Saturday as it moved away from recent lows following a drop to low point at around 91 dollars per unit . LTC/USD moved to an intraday high of 94 dollars earlier in the day , Saturday’s surge has seen litecoin move away from its recent point of support at 91 dollars 40 cents and now seemingly moving towards resistance zone near 95 dollar mark .
The chart shows that bulls rejected any moves below 50 on RSI which might lead prices up towards 58 points on RSI but one possible obstacle will be 10-day moving average which appears approaching crossover point with 25-day counterpart anytime soon .
Bitcoin Price Outlook
Bitcoin started off this week trading near 38 thousand dollar levels before plunging down below 36 thousand dollar mark during midweek due to profit taking activities however since Thursday bitcoin has witnessed recovery and today BTC is up 2 percent near 37 thousand 700 dollar level . Moving averages are confirming bullish sentiments as 10-day MA crosses over 25-day MA however 50-day MA still trading below 200-day MA hence more confirmation needed before we can see any major bullish trend reversal .
Despite some respite for both Shiba Inu and Litecoin thanks to Saturdays rebound , overall sentiment remains bearish until further confirmation otherwise thus investors must remain cautious when making investments decisions .