Technical Analysis: Flow Moves Higher, as SHIB Climbs 12%

Following a 12% decline yesterday, shiba inu (SHIB) rose by that very same proportion right now, as bulls as soon as once more boarded the rocket ship. This comes as costs of FLOW had been additionally increased throughout the session.

Biggest gainers

Price motion in SHIB continues to be risky, with the meme coin rising by as a lot as 60% within the final week.

However, it was FLOW that secured the title bull of the day, because it rose by as a lot as 20% in right now’s session.

FLOW/USD, which was buying and selling at a low of $7.01 on Tuesday, climbed to an intraday excessive of $8.52 earlier right now.

This transfer noticed FLOW as soon as once more hit its long-term resistance degree of $8.25, a degree which has been in place for almost all of this yr up to now.

This latest surge led to cost energy transferring into overbought territory, with a present studying of 65, which is its highest degree since August 29.

With costs not solely overbought but in addition buying and selling at resistance, right now’s rise which at the moment stands at 17.87%, could also be approaching its finish.

Biggest losers

There appears to be a pattern forming, the place in the future’s largest bull seems to be the most important bear the very subsequent day.

Following a 50% rise on Monday, SHIB fell by double digits yesterday, and now LEO has adopted this sample right now.

LEO/USD, which hit a excessive of $7.70 on Tuesday, fell to an intraday low of $6.68 throughout the course of right now’s session.

The transfer seems to have begun at what seems to be a short-term ceiling of $7.66, and comes as worth energy additionally reversed.

After such a fast rise in worth yesterday, it was inevitable that profit-takers would look to safe winnings.

Has the tide already turned on LEO, or will we see additional rises this week? Let us know your ideas within the feedback.