Despite Thursday’s selloff in cryptocurrencies, cosmos managed to hit its highest level in the last week. The rally came as one of yesterday’s big gainers, THETA, slipped in today’s session.
The biggest gainers
Cosmos (ATOM) moved higher in today’s session, despite the global cryptocurrency market cap falling by over 3% as of writing.
ATOM/USD rose to a peak of $30.79 earlier today, following its climb from yesterday’s low of $27.97.
This recent surge in the price of ATOM, comes after a Valentine’s day bounce of its support level at $25.90.
Since being hit by cupid’s arrow, ATOM/USD has had four consecutive sessions of higher highs, leading to Thursday’s run.
Today’s move also saw ATOM break out of its resistance level at $29.20, however as the day progressed, profit-takers liquidated positions, leading to the 1D candlestick fading.
Also, the false breakout saw the 14 day RSI hold at resistance 47. This level is a barrier it’s been unable climb above in the last 10 days.
We may see consolidation of the cosmos price if price strength decreases.
Biggest losers
Although SAND, AXS and LEO all fell into deep red Thursday, THETA was the one that suffered the greatest among the top 100.
Coming off the back of a $3.98 high yesterday, THETA fell to a low of $3.60 during today’s session, nearing a 10% loss in the process.
Thursday’s selloff began after prices approached the resistance of $4.00, and now look set to fall to support at $3.48.
The RSI also lost its price strength, falling to 50.20 after having been held at resistance at 58.65.
Many are now waiting to see whether THETA will maintain this consolidation and continue trading sideways between support or resistance.
But, bulls are likely to continue their circle as long we maintain these levels.
Will THETA rebound in tomorrow’s session? Please share your views with us in the comments.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.