Cosmos rose to its highest point since May earlier in today’s session, as crypto markets surged on Thursday. As of today’s writing, the global market cap was trading at 6.27% more than it did as of yesterday. Bullish sentiment is sweeping in. Solana was trading over 10% higher in today’s session .
Cosmos (ATOM), which traded higher Thursday as the token rallied, was at its highest level since May.
Following a low of $11.72 in today’s session, ATOM/USD surged to an intraday peak of $12.27 earlier in the day.
This marked the highest ATOM traded price since May 23, when tokens were at the top of the $12.30 area.
Looking at the chart, this latest surge in price came following a rebound from a support point of $11.15, which came during Wednesday’s session.
This price rise pushed the 14-day relative strengths index (RSI), which is in effect from July 21st, to a resistance level at 63.
Bulls in ATOM may want to prolong their recent form. If so, we need to see ATOM move above this ceiling.
In addition to ATOM, solana (SOL) was trading higher on Thursday, as prices climbed by over 10% in today’s session.
After residing at a floor of $39.99 on hump day, SOL/USD surged to a high of $45.00 earlier in today’s session.
SOL traded at its highest value since July 30th, when it was higher than the resistance level of $45.00.
The price of SOL fell slightly after it collided with the point earlier in today. It currently stands at $44.10.
The bulls have apparently abandoned their previous positions in order to make profits. However, this has resulted in some uncertainty regarding price movements.
The RSI also seems to be close to its ceiling at 59, adding more uncertainty.
This resistance point must be removed if we want to continue the gains of solana.
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What will it take to get solana up to $50.00 per month in August? Please share your views with us in the comments.
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