Filecoin was one of Saturday’s biggest gainers, as prices rose by as much 24% to start the weekend. The move saw the token reach its highest point since early June, and comes despite cryptos being mostly in the red in today’s session. The DOT also reached a multiweek peak.
Filecoin (FIL).
Filecoin (FIL), which saw prices rise by more than 24%, was one of the biggest movers on crypto markets Saturday.
Friday’s intraday FIL/USD spiked to $7.49. It is less than 24 hours after it was at $5.81.
FIL has reached its highest level in six months since June 7. This was at a time when the price of oil surged above a crucial resistance point.
Looking at the chart, FIL broke past this ceiling of $6.25 earlier in today’s session, which then led to a rise of bullish pressure.
The price of oil has now fallen below this level, and is currently at $7.60.
The $8 mark seems to be the target of bulls, but with the current overbought prices, it may prove more difficult to reach $8 this weekend.
Polkadot (DOT)
In addition to FIL, polkadot (DOT) was also in the green during today’s session, with prices climbing by nearly 10%.
The token climbed to $8.78 on Saturday, as the price of gold rose beyond its previous ceiling of $8.45.
Similar to FIL this is also the highest level at which DOT trades since early June. This comes less than 24hours after prices dropped below $7.83.
The relative strength index (RSI), 14-day, is also at a peak three-month high of 64.54. This may disrupt bullish momentum since prices are currently overbought.
However, bulls may target the $9 level if momentum keeps rising.
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