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

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. ATOM/USD – Daily Chart

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. LINK/USD – Daily Chart

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: Tags in this story Analysis, atom, Chainlink, Cosmos, LiNK

Do you expect chainlink to hit $8.00 this weekend? 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: ETH Hits 3-Week Low as Bearish Momentum Increases Following The Merge MARKET UPDATES | 11 hours ago Crypto, Stocks, PMs Sink Lower — All Eyes on the Fed’s Next Rate Hike as Ethereum’s Merge Hype Wavers MARKET UPDATES | 1 day ago

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