Skip to main content

Biggest Movers: ATOM Moves Closer to 4-Month High, LINK Also Higher

Cosmos was once again in the green, as the token moved closer to a four-month high during Friday’s session. Prices rose past a key resistance level during the day, as bullish sentiment continued to rise. Chainlink also traded higher, as prices surged for a third straight session.

Cosmos (ATOM)

Cosmos (ATOM) continued to trade higher on Friday, as the token moved closer to a multi-month high.

ATOM/USD rose to an intraday high of $16.25 in today’s session, pushing prices above a key resistance level in the process.

The aforementioned ceiling is the $16.15 level. The move comes less than 24 hours after prices were trading at a low of $14.40.

Friday’s surge takes the token closer to last Friday’s peak of $17.20, which was the highest point for ATOM since May 9.

As seen from the chart above, the 14-day relative strength index (RSI) is tracking at the 65.00 mark, which has historically been a level of resistance.

If cosmos were to recapture, and surge past last week’s high, then the likelihood of ATOM moving above $17.20 would exponentially increase.

Chainlink (LINK)

Like ATOM, chainlink (LINK) also rose for a third consecutive session on Friday, as bulls continued to push prices toward a key resistance level.

Following a low of $7.07 on Thursday, LINK/USD raced to an intraday high of $7.77 earlier in the day.

This peak pushed the token closer to its long-term price ceiling of $8.05, which is the level LINK was trading at to start the week.

However, following disappointing inflation data from the United States, market volatility rose, sending crypto prices mostly lower.

Today’s surge comes as the 14-day RSI moved past a key obstacle, which in this instance is the 53.95 resistance level.

Bulls will likely continue to target a move above $8.00 this weekend, however it remains to be seen if there is enough momentum in the market to see this through.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect chainlink to hit $8.00 this weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/xLFIDpo
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more