LEO is up 61% on the day as SHIB breaks below the $0.000034 resistance
Tuesday’s Shiba Inu (SHIB) 50% rally seems to have inspired the LEO bulls, which pushed the price up 61% on the day. The move comes as the crypto market consolidates yesterday’s gains.
LEO rose the most
Monday’s biggest loser, UNUS SED LEO, is also today’s biggest winner, returning 61% at press time.
LEO/USD rallied to an intraday high of $8.04 in today’s session after trading as low as $4.82 earlier in the week.
This move comes after breaking resistance at $5.4, which formed last Friday and has held until today.
As a result of the rally, the 14-day RSI rose to a high of 81, the same level seen on Friday after another sizeable bounce in price.
LEO/USD daily chart. Source: TradingView
However, as seen since the RSI last touched this level, the bears quickly got back in the game as the price appeared to be overbought.
There was some profit taking from today’s volatility as early participants attempted to avoid the effects of a reversal similar to last week’s move.
Tokens that fell the most
After gaining more than 50% on Monday, Shiba Inu was trading nearly 14% lower on Tuesday.
At press time, SHIB is down 4.4% after hitting an intraday low of $0.0000295, and is back below the $0.000034 resistance.
SHIB/USD daily chart. Source: TradingView
This move prevented an imminent bullish crossover between the 10-day (red) and 25-day (blue) moving averages.
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