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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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.