Shiba inu prices started the week at a three-month high after breaking through a major barrier level over the weekend. Despite the fact that the crypto market was generally in the red on Monday, the meme coin surged. Unus sed leo, which touched a two-week high today, was another token that surged during today’s gloomy session.
Shiba inus (SHIB)
Shiba inu (SHIB) was a significant gainer to begin the week, as the meme currency maintained its close proximity to a three-month high.
Following an intraday high of $0.00001790 on Sunday, SHIB/USD climbed to a session high of $0.00001774 earlier today.
The first increase occurred when SHIB broke over a critical price limit of $0.00001290, which has held solid since May 11.
Daily SHIB/USD Chart
According to the chart, this occurred when the 14-day relative strength index (RSI) surpassed its own resistance level of 62.40.
After soaring over this level, the index reached a high of 83.24, its highest reading since October 2021.
The RSI has gone somewhat lower from this top, and is now tracking at 74.18.
Overall, it looks that SHIB bulls have abandoned their earlier holdings as a consequence of overbought conditions.
Unusual Leo (LEO)
Along with SHIB, unus sed leo (LEO) was a strong mover in today’s session, reaching to its highest level in two weeks.
To begin this week’s session, LEO/USD raced to an intraday high of $5.35 as bulls sought to breach a barrier level of $5.40.
Today’s milestone comes after the token surged for the sixth straight session, reaching its highest level since July 29.
LEO/USD Chart – Daily
Similarly to Shiba Inu, the RSI indicator on LEO increased, breaking through its own ceiling of 48.90.
As of this writing, the index is tracking at 58.72, its highest level since July 7.
If bulls seek to breach the $5.40 level, price strength must continue to rise and go over the 60 level.