Bitcoin News: SHIB Hits 3-Week High, ATOM Up 20%

On Friday, Shiba inu reached a three-week high, mirroring the performance of the cryptocurrency markets, which rose during today's session.

As the week came to a close, bullish enthusiasm had returned, which contributed to mostly positive market performance. Once again, Cosmos was a big mover, as the token increased in value by more than 20% today.

Shiba Inu (SHIB)

A recent period of consolidation was followed by a price rally on Friday, which caused the Shiba inu (SHIB) currency to see a rebound during the session.

On Friday, the SHIB/USD pair broke off of two successive resistance points, which contributed to the price reaching an intraday high of $0.00001379.

The level of $0.00001290 was the first limit that SHIB was able to break over. This ceiling had been in place for much of the month of September.

SHIB Reaches a High Not Seen in Three Weeks, While ATOM Jumps More Than 20% Today

Following this development, bullish momentum picked up, sending the token rushing towards a new level of resistance located at $0.00001380.

Since the 26th of August, when prices were above $0.00001400, the overall price of shiba inu has now reached its greatest position since then.

As of the time this article was written, some of today's earlier gains have been erased, as the relative strength index (RSI) has moved closer to a barrier at the mark of 54.00.

Cosmos (ATOM)

This afternoon, the price of Cosmos (ATOM) reached a new high point for the last four months, which helped push the cryptocurrency up for a third consecutive trading session.

ATOM/USD reached a new all-time high of $16.23 earlier today, following a rise that pushed it over its previous maximum of $13.35 during yesterday's session.

ATOM has already reached its highest point since May 7 as a result of today's movement, which comes as the token has now increased by about 30 percent in the past two days.

When looking at the chart, the RSI is currently tracking at 72.23, which places it squarely in the zone designated as "overbought."

As a whole, price strength has reached its highest point since the beginning of the year, and as a result, there is a possibility that bears will start to reenter the market.

It is not yet known whether ATOM has reached its current high point or whether the run that has been going on this week can continue into the weekend.

Chris Eberechi

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