Chainlink hit a six-week high during Tuesday’s session, as the token rose for a sixth consecutive session. This move saw token rise above a crucial resistance level. Uniswap too was in green with its prices rising by 16% early in the day.
Chainlink (LINK).
Chainlink (LINK) rose Tuesday for the sixth day straight, bringing it to its highest level since mid-August.
After trading at a $6.55 floor on Wednesday, LINK/USD surged in back to back sessions with prices reaching an $8.36 high today.
Tuesday’s top is the highest mark that chainlink has hit since August 17, days after a failed breakout from the $9.50 level.
Looking at the chart, today’s price surge came after a successful move beyond a ceiling of $8.05.
This was not all. The 14-day relative strength indicator (RSI), which had been holding steady for the past week, also showed a breakout.
At the time of writing, it is at 61.03 which marks its highest point since August 14.
Uniswap
Another notable gainer on Tuesday was uniswap, which rose by as much as 16% during today’s session.
The UNI/USD rose to $6.68 Tuesday. This was the highest price since September 13.
As a result of today’s move, uniswap is now trading near a ceiling of $6.70, which has historically been a point of contention.
The gains made in the past have been somewhat diluted as the day progressed. As of this writing, the token trades at $6.61.
The RSI is also approaching a threshold of 58.00 which led to some traders selling their earlier positions.
In order for UNI’s price to climb above $7.00, it will be necessary that the RSI moves past the 58.00 threshold.
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Are you expecting UNI to rise above $7.00 within the next few days? Please share your views with us in the comments.
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