Shiba inu has been relatively stable to start the week, as prices remained close to recent highs, despite Monday’s market sell-off. Cryptocurrencies were mostly lower in today’s session, as markets continued to react to historically low U.S. unemployment figures. Avalanche was down in today’s session, nearing a one-week low.
Shiba Inu (SHIB)
Monday saw shiba inu (SHIB) continue to trade relatively close to recent highs, despite crypto markets mostly declining.
SHIB/USD hit a high of $0.0000148 earlier today, which comes following a bottom at the $0.0000141 mark on Sunday.
The meme coin had risen to a four-month peak of $0.0000159 on Saturday, however has since declined as traders moved to secure profits.
Looking at the chart, the declines commenced as the relative strength index (RSI) failed to break out of a ceiling at the 80.00 level.
As of writing, the index is now tracking at 77.02, which comes as bulls rejected a breakout of a floor at 75.00.
SHIB bulls will likely attempt to recapture last week’s high in the coming days, however will need to move past the 80.00 mark first.