ATOM traded over 15% higher Friday as the prices increased for the second consecutive session. Today’s rise took ATOM to its highest point since the start of the week, and comes as AAVE neared a 10-day high.
Cosmos (ATOM)
ATOM was one of the biggest movers in Friday’s session, as price climbed to its highest point since the beginning of the week.
After a Thursday low of $10.55, ATOM/USD surged more than 15% Friday to reach a high of $12.12 on Friday.
The move comes as ATOM used yesterday’s support point of $9.90 as a springboard to these heights, following a huge bearish drop the day prior.
Today’s surge now sees prices approaching a ceiling of $12.35, which has been in place since May 11, following almost two weeks of declines.
The Relative Strength Index now tracks at 38. That is just a few steps away from the ceiling of 40.
Bulls may make a push for the $15 mark if ATOM can overcome this hurdle.
Aave
AAVE also rose for the second session running, with Friday’s gains pushing prices close to their highest level in nearly two weeks.
Today’s surge in AAVE/USD, which is also over a 10% climb, saw prices hit a peak of $97.38 less than 24 hours after trading at $86.41.
Friday’s top is the most AAVE has traded at since May 10, when prices dropped from highs above $120.
The recent market consolidation has led to prices tracking at $80 support and $95, respectively. As a result, the 10-day moving Average has started trending sideways.
Bulls who anticipate an uptrend in the coming weeks could see this as a plus in the long term.
Currently, the RSI hovers at 39.48. This is close to the 43rd ceiling, which will be reached when bullish sentiment is tested next.
What do you think AAVE will be doing this weekend to begin trading at $100 above the average? Please share your views with us in the comments.
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