BNB was one of Wednesday’s biggest movers, as the token rebounded from a recent one-year low. The price decline came as crypto exchange Binance came under scrutiny for allegedly assisting sanctioned Russian clients in moving funds abroad. Shiba inu also rose, following recent losses.
BNB
BNB, the native token of cryptocurrency exchange Binance, rose by as much as 4% on Wednesday, following recent declines.
After falling to a one-year low of $204.40 on Tuesday, BNB/USD rose to an intraday peak of $216.39 earlier today.
Wednesday’s rally in price comes following a recent bear run, which saw the token fall lower for seven of the last nine sessions.
Looking at the chart, the rally coincided with the 14-day relative strength index (RSI) rebounding from a floor at 21.00.
As of writing, price strength is currently tracking at 29.22, which is marginally below a ceiling at 30.00.
In the event that this ceiling is broken, BNB will likely move above $220.00.
Shiba Inu (SHIB)
Additionally, shiba inu (SHIB) was also a notable gainer in today’s session, as the meme coin recovered from a recent price dive.
SHIB/USD slipped to a bottom of $0.000007744 during yesterday’s session, before moving to a high of $0.00000832 on hump-day.
The rebound saw shiba inu rise from Tuesday’s breakout below a key price floor of $0.00000790.
Like with BNB above, the move came as the RSI bounced from a floor of its own around the 40.00 mark, with a current reading of 43.92.
As of now, there is a good chance that SHIB bulls are targeting exits around a resistance point of $0.00000885.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect shiba inu to hit the aforementioned target this week? Let us know your thoughts in the comments.
