SHIB Hits 6-Week High, ETC Extends Recent Gains – Bitcoin Planet Market Updates

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Shiba inu was one of Friday’s biggest gainers, as the meme coin hit a six-week high. The move came as the global market capitalization of cryptocurrencies increased, as US inflationary pressures continued to subside. Ethereum Classic was also in the green, with price hitting a two-month high.

Shiba Inu (SHIB)

Shiba inu (SHIB) was one of the notable movers on Friday, as the meme coin hit a six-week high.

After a low of $0.000009227 on Thursday, SHIB/USD hit an intraday high of $0.000009711 earlier in today’s session.

Following today’s surge, the meme coin hit its highest point since December 5, when it traded as low as $0.00001016.

Looking at the chart, the move came as the shiba inu broke through a high at $0.00000945.

SHIB/USD – Daily Chart

On top of that, the 14-day Relative Strength Index (RSI) broke through its own high at 68.00.

At the time of writing, the index sits at 71.74, which is deep in overbought territory.

Ethereum Classic (ETC)

Another big gainer in today’s session was Ethereum Classic (ETC), with prices approaching a two-month high.

ETC/USD hit a high of $21.76 earlier in the day, less than 24 hours after hitting a low of $20.02.

The move pushed the token to its highest level since November 10, when ETC hit resistance at $23.00.

ETC/USD – Daily Chart

As the chart shows, the bulls appear to be attempting to bring Ethereum Classic back to this point, if the recent bullish momentum can be sustained.

This will likely be made difficult by a resistance level of 67.00 on the RSI, which has not been broken since last August.

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Do you expect to see Ethereum Classic reach $23.00 in the next few days? Let us know your thoughts in the comments.

Elie Dambell

Eliman brings an eclectic perspective to market analysis. He was previously a brokerage manager and online trading educator. Currently, he acts as a commentator in various asset classes including Crypto, Stocks, and FX, while also being a founder of a startup.

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