ATOM Hits 4-Month High, NEAR up 10% on Thursday – Market Updates Bitcoin News

Cosmos moved to a four-month high in today’s session, as crypto markets rebounded following Wednesday’s sell-off. This afternoon saw the price of the token break out of its key resistance point and reach the milestone. Another notable mover was Near Protocol, which reached its three-week highest.

Cosmos (ATOM)

Cosmos (ATOM), a token of the cryptocurrency, reached a four month high as price of the token broke a crucial point.

Following a low of $11.98 on Wednesday, ATOM/USD rose by nearly $2.00 in today’s session, hitting a high of $13.92 in the process.

Thursday’s rally comes as the token raced past its ceiling of $13.35, en route to its highest level since May 11.

Biggest Movers: ATOM Hits 4-Month High, NEAR up 10% on Thursday
ATOM/USD – Daily Chart

The chart shows that ATOM is in an ascending triangle ever since it hit a low at $5.62 in June.

The token bulls now appear to be targeting $15.00, which could see it rise almost $10.00 within two months.

The token needs to clear a hurdle in its relative strength index (RSI), that will take the form of a ceiling at 63.30.

Near Protocol (NEAR).

NEAR (Near Protocol) also gained on Thursday. It rose to a multiweek high earlier in day.

NEAR/USD reached a high of $4.63 today as the prices rose for the second consecutive session.

Near protocol, unlike cosmos which managed to move past its price ceiling, was not able to overcome its resistance after nearly colliding with $4.65.

Biggest Movers: ATOM Hits 4-Month High, NEAR up 10% on Thursday
NEAR/USD – Daily Chart

Prices are currently at $4.60 as bulls attempt to break through this hurdle.

This may be possible if we see the moving averages of 10-day (red), and 25-day(blue), crossing. It could happen soon as they are closer together.

This could lead to near protocol being closer to $5.00.

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What is behind today’s 10% surge in near protocol? We’d love to hear your opinions in the comments.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, educator in retail trading, and commentator on Crypto, Stocks, and FX markets.

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