SHIB, LTC Marginally Higher During Volatile Start to the Week – Market Updates Bitcoin News

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Shiba inu started the week trading marginally higher, despite cryptocurrencies mostly consolidating on Feb. 27. At the time of writing, the global market cap is currently up 0.83%, as volatility has intensified. Litecoin also rebounded on Monday, hitting a four-day high.

Shiba Inu (SHIB)

Shiba inu (SHIB) continued to move away from a recent support point to start the week, as prices rose marginally higher on Monday.

Following a low $0.0000124 on Sunday, SHIB/USD raced to an intraday high of $0.00001307 earlier today.

This move comes as the meme coin bounced from its long-term price floor at the $0.00001230 mark.

SHIB/USD – Daily Chart

Overall, SHIB is down 7% in the last seven days, and this comes following a downward cross of the 10-day (red) and 25-day (blue) moving averages.

In addition to this, the relative strength index (RSI) of 14 days has also failed to move past a ceiling at the 52.00 mark

The index is now tracking at 50.44, which comes after bulls rejected a breakout of a floor at 49.00.

Litecoin (LTC)

In addition to SHIB, litecoin (LTC) also climbed higher, hitting a four-day high in the process.

LTC/USD moved to a peak of $95.58 to start the week, after ending the weekend trading at a bottom of $93.79.

As a result of today’s gains, the token is now trading at its strongest point since last week, Thursday.

LTC/USD – Daily Chart

The initial move came following a breakout of a resistance point of 50.00 on the RSI indicator.

As of writing, the index is hovering slightly above this mark, with a current reading of 50.43.

LTC has since declined, and is now at $94.64, which appears to be a result of price strength tracking near a ceiling.

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Do you expect litecoin to climb above $100.00 this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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