As the price rose for a second consecutive day, Polkadot reached a multiweek high. The token briefly broke out of a key resistance point, during Monday’s surge. Chainlink reached its highest level in almost two weeks. The token is now up nearly 13% in the past seven days.
Polkadot (DOT)
Polkadot was up for the second consecutive session. This is because prices of the token were close to a two week high.
After a Sunday low of $7.21, the DOT/USD soared to $7.61 intraday to begin the week.
This move caused polkadot to briefly surpass its $7.60 resistance level before quickly retreating.
This resistance point is a historical point of uncertainty. Bears have recently dominated sentiment in this region, as can be seen on the chart.
DOT has fallen to $7.52 from its previous highs. This is because bulls opted for gains soon after colliding against the resistance.
Bulls are likely to continue to chase a breakout and the higher ceiling of $8.10 as an exit point.
Chainlink (LINK).
Chainlink (LINK), was also higher on Monday. It moved towards its peak in the last week.
The LINK/USD exchange rate surged to $7.25 at the beginning of the week. This is its highest level since August 25.
As with polkadot, Monday’s move led to a breakout, with LINK surging past its ceiling of $7.20.
As another resistance level (RSI) was breached, the move occurred.
The index currently tracks at 51.28 as of this writing. This is more than the long-term limit of 50.00.
If this trend continues, we may see LINK bulls try to reclaim the $7.50 mark.
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