Dogecoin, the popular meme coin, broke its two-day losing streak on Thursday, with prices surging by over 5%. After hitting a low of $0.0821 on Wednesday, DOGE/USD climbed to $0.08838 earlier in the day, reaching a one-week high and moving away from a key support level of $0.0810. The surge was attributed to the relative strength index (RSI) breaking out of a ceiling at 55.00. Currently, price strength is tracking at 56.65, with a resistance of 60.00 a possible target for bulls. If this target is hit, DOGE could surpass $0.09000.
Solana, another popular cryptocurrency, rose for the fifth consecutive session on Thursday. SOL/USD reached an intraday high of $25.24, up from a low of $23.43 the previous day. This price surge sent Solana to its highest point since February 21 and closer to a key resistance level at $26.00. The RSI has been pushed deep into overbought territory, with the index currently tracking at 69.27, marginally below an upcoming ceiling at 70.00. At the time of writing, SOL is trading at $25.00, relatively lower than its earlier peak.
The bullish sentiment in crypto markets continued on Thursday, with both Dogecoin and Solana seeing gains. Dogecoin’s surge was attributed to the RSI breaking out of a ceiling at 55.00, while Solana’s rise was due to its fifth consecutive session of gains. The RSI for Solana is currently tracking at 69.27, with an upcoming ceiling at 70.00. Both cryptocurrencies are expected to remain volatile in the coming days.
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