As prices drew closer to the resistance level, cosmos rose for a fourth straight session to begin this weekend. While cosmos (ATOM) extended gains, tezos (XTZ) rebounded following a streak of recent losing sessions, with bulls seemingly buying this weeks’ dip.
Cosmos (ATOM)
Cosmos (ATOM), which has been on a bullish streak for some time, extended that run Saturday. Prices have now increased for four consecutive sessions.
The token rose to an intraday peak of $8.33 to start the weekend, as prices have so far increased by over 12% in today’s session.
ATOM/USD moved to $8.90 in this latest move, which appears to be the final obstacle to the $10 level.
As of writing this, prices have fallen from earlier highs, with ATOM now trading at $8.12, which is still 11.75% higher than Friday’s low at $7.29.
Looking at this chart, today’s gains began to ease as the 14-day RSI indicator hit a ceiling at 51, and is currently tracking at 49.
After a win streak of four days, bulls are showing signs that they have made gains. But, this could be extended if relative strength surpasses its currency resistance.
Tezos (XTZ)
On the other side of the spectrum, the tezos XTZ token had fallen for four consecutive sessions prior to today’s rally.
After falling to $1.34 Friday, the intraday high for XTZ/USD was $1.45 at the start of Saturday.
Bulls purchased the token’s support at $1.33 to cause this price surge, currently XTZ trading almost 8% higher.
Following a false breakout on June 19, tezos has managed to trade above this floor, and bulls ensured that was once again the case, despite this week’s increased volatility.
The token’s current value is 7% less than last week. However, the 10-day moving average (red), shows that the short-term momentum remains somewhat higher.
Should there be a cross of the 10-day and 25-day MA’s, not only could there be a break of the $1.70 resistance, but also a true attempt from bulls to recapture the $2 mark.
Were there any further gains in XTZ last weekend? Please share your views with us in the comments.
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