Despite Monday’s market sell-off, the shiba inu has been fairly stable to start the week as values have stayed close to recent highs. In today’s session, most cryptocurrencies fell as the market continued to respond to historically low U.S. unemployment data. Today’s session saw Avalanche decline, getting close to a one-week low.

Shiba Inu (SHIB)

Despite the majority of crypto markets decreasing on Monday, shiba inu (SHIB) continued to trade relatively near to previous highs.

SHIB/USD hit a high of $0.0000148 earlier today, following a bottom at the $0.0000141 mark on Sunday.

On Saturday, the meme coin reached a four-month high of $0.0000159; however, as investors sought to protect gains, it has since fallen.

On the chart, the falls started when the relative strength index (RSI) could not break through a ceiling at the 80.00 level.

The index is currently tracking at 77.02 after bulls rejected a breach of a floor at 75.00.

In the upcoming days, SHIB bulls will probably try to retake the previous week’s high, but they will need to move over the 80.00 level first.

Avalanche (AVAX)

On the other hand, Avalanche (AVAX) prices started the week primarily in the red as they approached a seven-day low.

AVAX/USD experienced a high of $20.43 on Sunday before falling to an intraday low of $19.74 on Monday.

The action caused AVAX to decline for a third straight session and follows a failed breakthrough of its $22.00 resistance last Friday.

Following a jump to a six-month high on Thursday, this mini-bear run has occurred; however, as momentum has changed, negative sentiment has increased.

A big part of this is the 14-day RSI, tracking at 59.86, its weakest point since January 10.

If the bearish trend continues, price strength might reach a floor of 55.00, with AVAX likely trading below $19.00.

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Can avalanche bulls prevent a move below $19.00 this week? Let us know your thoughts in the comments.

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