Biggest Movers: SOL, Near Protocol up by Over 10% to Start the Week

Biggest Movers: SOL, Near Protocol up by Over 10% to Start the Week

Solana moved closer to the $40.00 mark on Monday, as it rose for a sixth straight session to start the week. Bullish momentum in the world’s ninth largest cryptocurrency intensified, following a breakout of a resistance point of $36.35. Near protocol was also in the green, as prices rose by over 10% on Monday. Solana (SOL)

Solana (SOL) climbed to a three-week high to start the week, as the token moved towards the $40.00 level

Following a low of $34.48 on Sunday, SOL/USD was able to reach a peak of $38.15 so far in today’s session.

Today’s rally comes as the toke rose past a key resistance level of $36.30 for the time since August 19. SOL/USD – Daily Chart

As seen from the chart, Monday’s rally came as the 10-day (red) moving average crossed its 25-day (blue) counterpart for the first time in over a month.

In addition to this, the 14-day relative strength index (RSI) is currently tracking at 61.31, which is its strongest reading since August 13.

This is marginally below a ceiling of 64.05, which will likely be the main hurdle preventing prices from rising above $40.00. Near Protocol (NEAR)

Near protocol (NEAR) was another notable mover to start the week, with prices nearing a one-month high.

NEAR/USD was able to climb to a peak of $5.25 on Monday, less than 24 hours after trading at a low of $4.72.

Monday’s surge comes as near protocol rose for a sixth consecutive session, with today’s top the highest point it has reached since August 16. NEAR/USD – Daily Chart

This recent rise in bullish momentum comes following an upwards crossover of the 10-day (red), and 25-day (blue) moving averages last week.

As a result of the increase in price, the RSI has moved to its strongest level since August 13, and is currently tracking at a reading of 64.25.

Should bulls continue to maintain the current sentiment, NEAR could continue to move closer to a target price of $5.50.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, NEAR, near protocol, SOL, Solana

Do you expect near protocol to hit $5.50 in September? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Extends Gains, ETH Consolidates Ahead of The Merge MARKET UPDATES | 11 hours ago Biggest Movers: ADA, SAND Surge to Multi-Week Highs on Saturday MARKET UPDATES | 2 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com Previous articleShariah-Compliant Islamic Coin Engages UAE Ruling Family HE Sheikh Khalifa Bin Mohammed Bin Khalid Al Nahyan to Board of Advisors Next articleStarbucks Leverages Polygon for Web3 Push, Coffeehouse Chain to Issue NFT Stamps Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"

Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Iran to Increase Penalties for Unauthorized Cryptocurrency Mining