Solana and Terra were lower Friday due to market uncertainty. This happened as many of the major ten fell to multi-week lows against the U.S. dollars.
The biggest gainers
With markets mainly in the red on Friday, finding a bull was no mean feat, however, there were some exceptions that weathered today’s storm.
NEO was the most prominent, trading at close to 6 percent higher as it managed to escape current bearish pressure.
Following a low of $23.45 during Thursday’s session, NEO/USD rose to an intraday high of $27.03 earlier today.
This move followed a string of high highs that saw NEO rise by up to $10 over the past 3-weeks.
Friday’s rally was heightened by the fact that the 14-day Relative Strength Index rallied beyond its recent ceiling of 59, and is currently tracking at 61.
NEO/USD marginally broke away from $26 long-term resistance, cementing a 1-month high.
After this false breakout traders will be watching to see whether price momentum gains this weekend.
Biggest losers
AVAX was down for a second consecutive session, with LUNA falling for a third straight day, although neither of these were today’s most notable bear.
This honor went to solana (SOL), whose prices fell almost 15% last week. Prices are now close to their long-term floor.
SOL/USD fell to an intraday low of $90.27 during Friday’s trading session, and is down close to 6% as of writing.
Also, price strength slowed down, as the RSI plunged deep into oversold territory. It currently stands at 36.
Recent declines in momentum have caused the 10-day (red) and 25-day(blue) moving mean to drop, signaling bearish sentiment.
SOL hasn’t traded below $89 since August, however, if this decline extends, we could see that this weekend.
Are you expecting a rapid rebound in SOL price? Please share your views with us in the comment section.
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