Biggest Movers: XLM, DOGE Rebound on Saturday, Following Recent Market Sell Off
Stellar was a notable mover during Saturday’s session, as the token returned to the green to start the weekend. Prices recently fell lower for six straight days, however, bulls have reentered the market snapping this streak in the process. Dogecoin also rebounded today.
Stellar (XLM) rose higher on Saturday, following a recent six-day losing streak which pushed the price to a multi-month low.
XLM/USD climbed to an intraday peak at $0.12 earlier in today’s session, which comes following a low of $0.1115 the day prior.
The move comes as stellar continued to move away from a support point at $0.110, which was hit on Thursday.
This was the first time the price collided with this floor since mid-June, and comes as the relative strength index (RSI) hit its own floor at 30..
At the time of writing this, the index has also rebounded and is now tracking at 34.84, which is marginally below a ceiling at 36.00.
Should it push past this point, the next likely price target will be around a ceiling of $0.1340.
In addition to XLM, dogecoin (DOGE) was also in the green to start the weekend, as it bounced from a floor of its own.
After trading at a low of $0.06079 during Friday’s session, DOGE/USD surged to a peak of $0.06385 earlier in the day.
The jump in price came as the meme coin moved away from a support point of $0.0600, which is near a recent two-month low.
Similar to XLM, the RSI on the dogecoin chart has bounced from a support point at the 30.00 mark, and is now tracking at 34.13.
The next visible point of resistance is at the 44.00 mark, and should this point be hit, DOGE will likely be near $0.06600.