Shiba inu was one of the biggest gainers on Friday, surging to a six-week high. The move comes as global cryptocurrency market capitalization soars as U.S. inflationary pressures continue to cool. Ethereum Classic is also in the green, with prices hitting two-month highs.
Shiba Inu (SHIB)
Shiba inu (SHIB) was one of the notable movers on Friday, as the meme coin rose to a six-week high.
SHIB/USD surged to an intraday high of $0.000009711 earlier today, following Thursday’s low of $0.000009227.
As a result of today’s surge, the memecoin hit its highest point since Dec. 5, when it traded as high as $0.00001016.
Looking at the chart, the move came as shiba inu broke above the upper bound of the $0.00000945 mark.
Besides that, the 14-day relative strength index (RSI) broke its own upper limit of 68.00.
As of writing, the index is tracking 71.74, which is in overbought territory.
Ethereum Classic (ETC)
Ethereum Classic (ETC) was another big winner in today’s session, with prices near two-month highs.
ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours from bottoming out at $20.02.
The move pushed the token to its highest level since Nov. 10, when ETC hit resistance at $23.00.
As can be seen from the chart, it appears that the bulls are attempting to bring Ethereum Classic back to this point if the recent bullish momentum holds.
This could be made difficult by RSI resistance at 67.00, which has remained unbroken since last August.
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