ATOM Moves Closer to 4-Month High, LINK Also Higher – Market Updates Bitcoin News

Cosmos was once again in the green, as the token moved closer to a four-month high during Friday’s session. As bullish sentiment continued rising, prices rose beyond a crucial resistance level. Chainlink was also trading higher as the prices surged for the third consecutive day.

Cosmos (ATOM)

Cosmos (ATOM), which traded higher Friday, moved closer towards a multi-month peak.

ATOM/USD rose to an intraday high of $16.25 in today’s session, pushing prices above a key resistance level in the process.

That ceiling is $16.15. This move is less than 24 hours following prices trading as low at $14.40.

Biggest Movers: ATOM Moves Closer to 4-Month High, LINK Also Higher
ATOM/USD – Daily Chart

Friday’s surge takes the token closer to last Friday’s peak of $17.20, which was the highest point for ATOM since May 9.

The chart shows that the 14-day relative Strength Index (RSI), which is historically a resistance level, is currently at 65.00.

If cosmos were to recapture, and surge past last week’s high, then the likelihood of ATOM moving above $17.20 would exponentially increase.

Chainlink (LINK).

Chainlink (LINK) rose again on Friday like ATOM. Bulls continue to push prices higher towards key resistance levels.

After a Thursday low of $7.07, LINK/USD surged to an intraday peak of $7.77 early in the morning.

The token was pushed closer to $8.05 as its long-term price limit. This is also the level LINK traded at the beginning of the week.

Biggest Movers: ATOM Moves Closer to 4-Month High, LINK Also Higher
LINK/USD – Daily Chart

However, after disappointing US inflation data, crypto market volatility rose and sent prices generally lower.

Today’s surge comes as the 14-day RSI moved past a key obstacle, which in this instance is the 53.95 resistance level.

The bulls are likely to continue their pursuit of a move over $8.00 this weekend. However, it is still to be seen whether there is sufficient momentum to make this happen.

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What do you think chainlink will be worth this weekend at $8.00? Please share your views with us in the comments.

Eliman Dambell

Eliman has a unique perspective on market analysis. He was previously a retail trading teacher and brokerage director. He currently acts as an analyst for various asset types, such as Crypto, Stocks and FX.

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