Shiba inu bears ended a three-day bull run on Thursday, as a red wave swept over cryptocurrency markets. Today’s drop comes as the global crypto market cap fell by as much as 1.50%. Toncoin also slipped, as profit takers moved to secure recent gains.
Shiba Inu (SHIB)
Shiba inu (SHIB) moved lower during today’s session, as bears ended a three-day winning streak.
After peaking at $0.000007527 on Wednesday, SHIB/USD slipped to a bottom of $0.00000725 earlier in the day.
The decline came as bulls were unable to move beyond a ceiling at $0.00000755, giving way to downward pressure in the process.
From the chart, it appears that the shift in momentum came after the relative strength index (RSI) failed to break a key ceiling.
The index was unable to penetrate a resistance level of 43.00, and is now tracking at a reading of 40.09.
Should price continue to fall in coming days, the landing spot could likely be a point of support at $0.00000710.
Toncoin (TON)
Toncoin (TON) fell by as much as 7% on Thursday, after recently climbing to its highest point in nine months.
TON/USD dropped to a low of $2.31 earlier in the day, after peaking at $2.49 less than 24 hours ago.
The drop came as toncoin bulls seemingly opted to secure gains, following a recent surge to its strongest point since late-January.
After tracking deep in the overbought region in the past few days, toncoin’s RSI is now sitting at 65.19.
It appears that the next support point for price strength could be at 56.00, which may mean more profit taking could be on the cards.
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Where will toncoin end this week? Let us know your thoughts in the comments.
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