UNI Enters Top 20, SHIB Hits Highest Since May – Market Update Bitcoin News

Uniswap entered the cryptocurrency top 20 on Wednesday, downgrading MATIC after surging more than 10% today. UNI has now risen for four consecutive sessions as it approaches a key resistance point. SHIB moved higher again today, with prices hitting their highest since May.

Uniswap (UNI)

UNI moved higher for the fourth straight session on Wednesday as the coin entered the top 20.

Following Tuesday’s low of $4.43, UNI climbed to an intraday high of $5.14 today.

The move brings the world’s 19th-largest cryptocurrency closer to its long-term resistance at $5.20.

UNI/USD – daily chart

Due to the recent price surge, the 14-day RSI has climbed to its highest point since April 5, reaching its own ceiling.

Looking at the chart, this upper limit appears to be 53.60, which has not been breached for more than three months.

If we see a move beyond this point, UNI bulls may try to push the price to a higher price ceiling of $5.80.

Shiba Inu (SHIB)

SHIB extended its gains on Wednesday as prices climbed to their highest since May earlier in the day.

The so-called meme token hit an intraday high of $0.00001182 in today’s trade, its highest since May 31.

After yesterday’s rally, we questioned whether the coin could reach its resistance point at $0.00001150, but the bulls have broken out of this area.

SHIB/USD – daily chart

However, after breaking this cap, we see momentum slipping and the price is now $0.00001021.

Overall, SHIB/USD remains almost 8% above yesterday’s highs, and the bulls are likely to push the price even higher.

If they do manage to maintain their recent momentum, resistance at $0.00001300 could be their next point of interest.

Will we see SHIB continue to climb in the coming days? Let us know your thoughts in the comments.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.

Image Source: Shutterstock, Pixabay, Wiki Commons

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