Marginally – Coin Network News https://coinnetworknews.com If it's coin, it's news. Wed, 08 Mar 2023 17:34:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 XRP Hits 2-Week High, SHIB Marginally Higher – Market Updates Bitcoin News https://coinnetworknews.com/xrp-hits-2-week-high-shib-marginally-higher-market-updates-bitcoin-news/ https://coinnetworknews.com/xrp-hits-2-week-high-shib-marginally-higher-market-updates-bitcoin-news/#respond Wed, 08 Mar 2023 17:34:25 +0000 https://coinnetworknews.com/xrp-hits-2-week-high-shib-marginally-higher-market-updates-bitcoin-news/

Xrp rose higher for a third straight session on Wednesday, as prices moved to a two-week high. The rise comes despite market sentiment remaining largely bearish, with the global market cap trading 1.29% lower as of writing. Shiba inu also climbed higher in today’s session.

XRP, formerly ripple, was once again a notable mover, as prices rose for a third straight session on Wednesday.

XRP/USD raced to an intraday high at $0.3952 earlier today, which comes less than 24 hours after trading at a low of $0.3729.

Following the rally, the token has now risen to its highest point since February 21, as it closes in on a ceiling at $0.40.

Biggest Movers: XRP Hits 2-Week High, SHIB Marginally Higher
XRP/USD – Daily Chart

Looking at the chart, this comes as the relative strength index (RSI) of 14 days marginally broke out of a ceiling at 57.00.

As of writing, the index is tracking at 57.98, which is its strongest reading since the start of February.

Shiba Inu (SHIB)

Shiba inu (SHIB) jumped back into the green on Wednesday, as prices reentered a key support point.

Following a low of $0.00001065 on Tuesday, SHIB/USD surged to a peak at $0.00001132 earlier in the day.

The move saw the meme coin move back above a price floor at $0.00001100, following a breakout to start the week.

Biggest Movers: XRP Hits 2-Week High, SHIB Marginally Higher
SHIB/USD – Daily Chart

Overall, it appears that this rise in price comes as the RSI moved away from a recent floor at 36.00.

As of writing, the index is tracking at 39.63, with a ceiling at 42.00 a possible target for bulls.

In order for this rally to turn from something brief into something more sustained, this ceiling will need to be broken.

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Could shiba inu extend gains through the remainder of the week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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]]> https://coinnetworknews.com/xrp-hits-2-week-high-shib-marginally-higher-market-updates-bitcoin-news/feed/ 0 SHIB, LTC Marginally Higher During Volatile Start to the Week – Market Updates Bitcoin News https://coinnetworknews.com/shib-ltc-marginally-higher-during-volatile-start-to-the-week-market-updates-bitcoin-news/ https://coinnetworknews.com/shib-ltc-marginally-higher-during-volatile-start-to-the-week-market-updates-bitcoin-news/#respond Mon, 27 Feb 2023 17:05:22 +0000 https://coinnetworknews.com/shib-ltc-marginally-higher-during-volatile-start-to-the-week-market-updates-bitcoin-news/

Shiba inu started the week trading marginally higher, despite cryptocurrencies mostly consolidating on Feb. 27. At the time of writing, the global market cap is currently up 0.83%, as volatility has intensified. Litecoin also rebounded on Monday, hitting a four-day high.

Shiba Inu (SHIB)

Shiba inu (SHIB) continued to move away from a recent support point to start the week, as prices rose marginally higher on Monday.

Following a low $0.0000124 on Sunday, SHIB/USD raced to an intraday high of $0.00001307 earlier today.

This move comes as the meme coin bounced from its long-term price floor at the $0.00001230 mark.

SHIB/USD – Daily Chart

Overall, SHIB is down 7% in the last seven days, and this comes following a downward cross of the 10-day (red) and 25-day (blue) moving averages.

In addition to this, the relative strength index (RSI) of 14 days has also failed to move past a ceiling at the 52.00 mark

The index is now tracking at 50.44, which comes after bulls rejected a breakout of a floor at 49.00.

Litecoin (LTC)

In addition to SHIB, litecoin (LTC) also climbed higher, hitting a four-day high in the process.

LTC/USD moved to a peak of $95.58 to start the week, after ending the weekend trading at a bottom of $93.79.

As a result of today’s gains, the token is now trading at its strongest point since last week, Thursday.

LTC/USD – Daily Chart

The initial move came following a breakout of a resistance point of 50.00 on the RSI indicator.

As of writing, the index is hovering slightly above this mark, with a current reading of 50.43.

LTC has since declined, and is now at $94.64, which appears to be a result of price strength tracking near a ceiling.

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Do you expect litecoin to climb above $100.00 this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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]]> https://coinnetworknews.com/shib-ltc-marginally-higher-during-volatile-start-to-the-week-market-updates-bitcoin-news/feed/ 0 ETH, BTC Marginally Higher Ahead of FOMC Meeting Results – Bitcoin News https://coinnetworknews.com/eth-btc-marginally-higher-ahead-of-fomc-meeting-results-bitcoin-news/ https://coinnetworknews.com/eth-btc-marginally-higher-ahead-of-fomc-meeting-results-bitcoin-news/#respond Wed, 01 Feb 2023 14:04:52 +0000 https://coinnetworknews.com/eth-btc-marginally-higher-ahead-of-fomc-meeting-results-bitcoin-news/

Ethereum was marginally higher on Feb. 1, as markets prepare for the upcoming Federal Open Market Committee (FOMC) meeting results. Many are expecting that the U.S. Federal Reserve will increase rates by 25 basis points, taking current rates to 4.75%. Bitcoin was in the green on Wednesday, as prices rose above $23,000.

Bitcoin

Bitcoin (BTC) was back above $23,000 in today’s session, as traders turned their attention to this afternoon’s FOMC meeting.

After recording a low of $22,874.43 on Tuesday, BTC/USD moved to an intraday high of $23,225.02 earlier today.

Today’s move saw the world’s largest cryptocurrency briefly move past an interim ceiling at the $23,200 level.

BTC/USD – Daily Chart

However, with volatility today higher due to the Fed meeting, prices have since moved back below this point and are currently trading at $23,045.02.

This took place as the 14-day relative strength index (RSI) continued to hover close to a floor at 68.00

As of writing, the index is tracking at 69.83, and could remain around this mark until after the Fed meeting concludes.

Ethereum

Ethereum (ETH) rose marginally higher on Wednesday, with prices moving closer to the $1,600 zone.

ETH/USD rose to a peak of $1,598.52 earlier in the day, which comes following a move to a bottom at $1,569.04 the day prior.

Like with bitcoin, ETH bulls were unable to push prices above resistance, with earlier momentum easing as of writing.

ETH/USD – Daily Chart

From the chart, it appears that the shift in sentiment has come as the RSI was unable to move past its own ceiling at 58.00

Currently, the index is tracking at 57.64, with the 10-day (red) moving average also changing its trend, and now downward facing.

Should this sentiment continue, it is highly likely that ETH will fall to a floor at $1,550.

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Will cryptocurrencies rally following this afternoon’s FOMC meeting? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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