ATOM up 12% on Tuesday, as NEAR Snaps Losing Streak – Market Updates Bitcoin News

Cosmos gained notable ground on Tuesday as its prices rose up to 12%. Today’s surge sees the cryptocurrency climb for a third straight day, hitting a five-day high in the process. Near protocol also saw a rebound after recent falls.

Cosmos (ATOM)

Cosmos (ATOM) was one of Tuesday’s big gainers, as prices of the token surged by as much as 12%.

After a week-opening low of $10.25, ATOM/USD rose earlier today to reach a peak of $11.93.

Today’s peak sees ATOM climb higher for a third straight session, hitting its highest level since August 18 in the process.

Biggest Movers: ATOM up 12% on Tuesday, as NEAR Snaps Losing Streak
ATOM/USD – Daily Chart

Looking at the chart, today’s move came as the token briefly broke out of a key resistance level of $11.55.

ATOM is trading above that ceiling at the time of writing. But, previous gains have receded with current price at $11.56.

Overall, it appears as if previous bulls have turned bearish, liquidating their positions shortly after today’s breakout.

Near Protocol (NEAR).

In addition to cosmos, near protocol (NEAR) was also in the green in today’s session, as prices rebounded following recent losses.

NEAR/USD rallied to an intraday peak of $4.41 on Tuesday, climbing over 8% higher than Monday’s low.

NEAR fell briefly below $4.10 support yesterday, but bulls refused to take a complete break and bought the dip instead.

Biggest Movers: ATOM up 12% on Tuesday, as NEAR Snaps Losing Streak
NEAR/USD – Daily Chart

Today’s rebound in price comes as another rebound took place, on this occasion it was via the 14-day relative strength index (RSI).

The chart shows that the 38.15 floor stayed in place and did not break. RSI, as at writing, is currently tracking at 43.45.

Bulls’ next target is $4.70. However, this may be difficult after a downside crossing of the 10-day and 25-day moving averages. This could signal further short-term declines.

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What is behind today’s rebound in crypto prices? Please share your views with us in the comment section.

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.

Image creditShutterstock. Pixabay. Wiki Commons

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