Biggest Movers: SHIB Stays Close to Recent 2-Month High on Monday

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Shiba inu remained close to a two-month high to start the week, as sentiment in the meme coin remained mostly bullish on Monday. This comes despite the global cryptocurrency market cap mostly consolidating in today’s session. Bitcoin cash was another notable exception, as the price rose by over 4%.

Shiba Inu (SHIB)

Shiba inu (SHIB) was close to a two-month high on Monday, as momentum in the meme coin remained bullish.

Following a low of $0.000008171 on Sunday, SHIB/USD jumped to an intraday high of $0.000008688 earlier today.

This has pushed SHIB close to its highest point since May 29, when price peaked at $0.000008888.

Monday’s move came as the relative strength index (RSI) bounced from a recent support point at the 60.00 mark.

At the time of writing, the index is tracking at 64.41, with the next visible point of resistance at 68.00.

Should it reach this point, SHIB will likely hit a ceiling of $0.00000885.

Bitcoin Cash (BCH)

Another notable gainer on Monday was bitcoin cash (BCH), which rose by as much as 4% to start the week.

BCH/USD peaked at $258.30 earlier in today’s session, following on from Sunday’s low at $243.34.

The move saw the cryptocurrency continue to trade near yesterday’s two-week high at the $266.29 point.

Earlier gains have since slipped however, as price strength collided with a resistance level at 56.00.

Currently the RSI is at a reading of 53.23, and appears to be heading for a floor around the 50.00 zone.

A destination of $240.00 may be the target for bears should this decline continue.

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Do you expect bitcoin cash to move above $300.00 in August? Let us know your thoughts in the comments.