Biggest Movers: DOGE Rallies, After Bouncing From Key Support Point
Dogecoin was a notable mover on Friday, as the meme coin rebounded from a key support point. The move came after two consecutive days of declines, pushing price near a two-month low. Solana also ended a losing streak in today’s session.
Dogecoin (DOGE) rose higher in today’s session, after the meme coin snapped a recent losing streak.
DOGE/USD climbed to a peak of $0.05873 earlier in the day, after falling to a low at $0.05747 the day prior.
The move comes after dogecoin dropped close to a floor at $0.0580, with bulls choosing to reject this breakout.
Since hitting this support level, it now seems that the next target could be at resistance of $0.0595.
On closer inspection of the chart, it appears that the relative strength index (RSI) also rebounded from a floor of its own at 31.00.
The index is now at a reading of 33.20, with the next level traders might target at 35.00, which seems to be an interim ceiling.
Solana (SOL) also climbed higher on Friday, after falling to a two-week low during Thursday’s session.
Following a drop to a low of $21.07 yesterday, SOL/USD rallied to an intraday peak at $21.59 earlier today.
Similar to dogecoin, bulls bought the dip, after the token neared a support level of its own at the $21.00 mark.
Earlier gains have somewhat eased, which comes as price strength hovers around a floor of 50.00.
Should this level hold firm, there is a good chance that traders look to take solana back above $22.00 this weekend.
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Do you expect bullish sentiment to intensify this weekend? Let us know your thoughts in the comments.