Dogecoin stayed close to a two-week high on Thursday, as markets rebounded from a slight sell-off during yesterday’s session. Traders moved to secure profits over the last 24 hours, following strong gains on Tuesday. Solana neared a drop below $20.
Dogecoin (DOGE) remained close to a multi-week high during today’s session, as bulls attempted to maintain recent pressure.
After sliding to a low of $0.06468 on Wednesday, DOGE/USD moved to a peak of $0.06692 earlier today.
This was marginally below Tuesday’s high of $0.0687, which is the strongest level the meme coin had hit since mid-August.
DOGE/USD – Daily Chart
Bullish momentum has eased in recent days since the relative strength index (RSI) collided with a resistance level of 48.00.
Price strength has since tailed off, and at the time of writing this is now tracking at the 45.92 mark.
Should a break out of the aforementioned ceiling take place in the coming days, bulls will likely attempt to take the price above $0.0700.
On the other hand, solana (SOL) extended a recent losing streak on Thursday, with the price moving closer to a drop below $20.00.
SOL/USD bottomed out at $20.55 earlier in today’s session, which comes following a high of $21.01 the day prior.
The recent shift in sentiment comes as solana bulls were unable to orchestrate a move beyond a resistance level of $22.
SOL/USD – Daily Chart
It now seems inevitable that the token will fall to a floor at $20, depending on where the RSI lands.
As of writing this, the index is at a reading of 41.73, with a support point of 39.00 a possible target for sellers.
Solana could drop under the $20.00 level in the not-too-distant future, in the event this floor is hit.