As US inflation concerns eased, the global cryptocurrency market capitalization increased with Shiba Inu (SHIB) and Ethereum Classic (ETC) both making large gains. SHIB hit a 6-week high while ETC reached a 2-month high.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was one of the biggest gainers of the day as it hit an all-time high of six weeks. On Thursday, the lowest price was $0.000009227 and on Friday, the coin reached an intraday high at $0.000009711.
Breaking through a ceiling at $0.00000945, the meme coin traded as high as $0.00001016, its highest point in history. Additionally, the 14-day RSI surpassed its high of 68.00 and is currently at 71.74, in overbought territory.
Classic Ethereum (ETC)
Ethereum Classic (ETC) was another major winner, climbing to a two-month high of $21.76. This is less than 24 hours after hitting $20.02, its strongest point since November 10 when it reached resistance at $23.00.
The chart shows that the bulls are pushing. If the current bullish momentum can be maintained, Ethereum Classic may be able to hit $23.00 in the near future. This may be hindered due to a resistance level at 67.00 on the RSI, which has not been broken in the last two years.
