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DOGE Hits 1-Month High to Start the Weekend – Market Updates Bitcoin News


Dogecoin rallied to a one-month high to start the weekend, as markets marginally rebounded on Saturday. The token rose by as much as 10% in today’s session, racing past a key resistance in the process. Solana was another notable gainer, as it hit an 11-day high.

Dogecoin (DOGE)

Dogecoin was one of Saturday’s most notable movers, as the meme coin rose to a one-month high in today’s session.

Following a low of $0.05974 on Friday, DOGE/USD rose to an intraday peak of $0.06797 to start the weekend.

As a result of today’s surge, the token moved past a key resistance level of $0.06540, rising to its highest point since August 26 in the process.

DOGE/USD – Daily Chart

Looking at the chart, DOGE has slipped from earlier highs, as the 14-day relative strength index (RSI) collided with a ceiling of its own.

As of writing, the index is currently tracking at 56.59, which is marginally below a resistance of 57.00.

Currently DOGE is trading at $0.06572, which is slightly above its aforementioned price ceiling of $0.06540.

Should bulls attempt to push the token back beyond this point, there will need to be a breakout first within the RSI.

Solana (SOL)

In addition to dogecoin, solana (SOL) was another notable gainer in today’s session, as the token moved closer to a resistance level of its own.

SOL/USD surged to a high of $34.70 earlier today, which saw prices climb higher for a third consecutive session.

As a result of today’s peak, the world’s ninth largest cryptocurrency climbed to its strongest point since September 13.

SOL/USD – Daily Chart

Bulls now look set to take prices even higher, with a ceiling of $36.50 a possible target, should this week’s momentum continue.

Despite the high level of volatility in crypto markets this week, SOL is trading over 4% higher from the same point last week.

The moving average of 10-day (red) also appears to have crossed versus its 25-day (blue) counterpart, which could signal that further gains are ahead.

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Could solana hit $40.00 before the end of the month? Let us know your thoughts in the comments.

Eliman Dambell

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




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.





Read More: DOGE Hits 1-Month High to Start the Weekend – Market Updates Bitcoin News

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