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DOGE Hits A Month High To Start The Weekend – Market Update Bitcoin News

Dogecoin bounced back to a one-month high to start the weekend as the market rebounded slightly on Saturday. The token gained up to 10% in today’s session, breaking through key resistances in the process. Solana was another notable gainer as she hit an 11-day high.

Dogecoin (DOGE)

Dogecoin was one of Saturday’s most notable moves as Memecoin climbed to a one-month high in today’s session.

Following Friday’s low of $0.05974, DOGE/USD moved up to the intraday peak of $0.06797 to start the weekend.

As a result of today’s surge, the token crossed the key resistance level of $0.06540 ​​and in the process climbed to its highest level since August 26th.

DOGE/USD – daily chart

Looking at the chart, DOGE has fallen from previous highs as the 14-day Relative Strength Index (RSI) hit a ceiling.

At the time of writing, the index is currently tracking at 56.59, just below resistance at 57.00.

DOGE is currently trading at $0.06572, just above the aforementioned cap of $0.06540.

If the bulls want to push the token back past this point, they should breakout inside the RSI first.

Solana (SOL)

In addition to Dogecoin, Solana (SOL) was another notable riser in today’s session as the token approached its own resistance level.

SOL/USD surged to a high of $34.70 today, marking the third straight price increase.

As a result of today’s peak, the world’s 9th largest cryptocurrency has risen to its strongest point since September 13th.

SOL/USD – daily chart

If this week’s momentum continues, the $36.50 high is a target and the bulls now appear to be looking to push the price further.

Despite high volatility in the crypto market this week, SOL is trading more than 4% higher from the same point last week.

The 10-day (red) moving average also appears to cross the 25-day (blue) moving average line.

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Could solana hit $40.00 by the end of this month? Let me know what you think in the comments.

Elliman Dumbbell

Eliman brings an eclectic perspective to market analysis. He was previously a brokerage director and retail trading educator. Currently, he works as a commentator on various asset classes including cryptocurrencies, stocks and FX.

image credit: Shutterstock, Pixabay, Wiki Commons

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DOGE Hits A Month High To Start The Weekend – Market Update Bitcoin News

Source link DOGE Hits A Month High To Start The Weekend – Market Update Bitcoin News

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