SHIB hits 3-week high, ATOM gains over 20% today

Shiba inu hit a three-week high on Friday, as crypto markets surged in today’s session. Markets were mostly in the green as bullish sentiment returned to end the week. Cosmos was once again a notable move, with the token gaining over 20% today.

Shiba Inu (SHIB)

Shiba inu (SHIB) rebounded during Friday’s session as prices recovered from a recent period of consolidation. SHIB hit an intraday high of $0.00001379 on Friday, as prices broke through two consecutive resistance points.

The first ceiling SHIB broke through was the $0.00001290 level, which has been in place since late August.

Following this, the bullish momentum has intensified, with the chip jumping to another resistance level of $0.00001380. Overall, shiba inu is now trading at its highest point since August 26, when prices were above $0.00001400.

Today the relative strength index (RSI) is approaching a barrier at the 54.00 mark.

Cosmos (ATOM)

Cosmos rose for a third consecutive session, with prices hitting a new four-month high this afternoon. After rallying above its $13.35 ceiling during yesterday’s session, ATOM hit a high of $16.23 earlier today.

Today’s move sees ATOM reach its highest level since May 7, as the token has gained nearly 30% over the past two days.

Looking at the chart, the RSI is now at 72.23, which is deep in overbought territory. Overall, price strength is now at its strongest point since the beginning of the year, which could potentially see bears start to come back into the market and sell to capitalize on their profits.

It remains to be seen if ATOM has reached its current peak, or if this week’s run can be extended into the weekend.