Solana regained the eighth spot in the crypto top ten. ADA and DOT had both been over 10% higher at the beginning of the week. Despite this, it was EOS and FIL which led today’s gainer, with FIL gaining over 30% in the session.
Filecoin (FIL).
FIL rallied by as much as 30% to start the week, as cryptocurrencies rose across the board during Monday’s session.
Global crypto market cap rose 6.5% Monday due to FIL gains, rising to an intraday record of $25.62.
Today’s peak follows yesterday’s lows which saw FIL trading below the $20 level, following recent rallies from support of $17.50. .
From this support, FIL/USD continued to move beyond the resistance level of $23.30, with today’s high hitting its highest point since February 8.
As you can see, the price chart is currently too high. The 14-day RSI indicator has been tracking at 75.10.
This reading is the highest since September 6. Bears could be trying to find a time when prices will drop.
ADA and DOT were almost 9% higher at the time of this writing but they rose more than EOS Monday.
EOS/USD rose to $3.17 after a session that began with a $2.56 low. This broke out of the long-term resistance.
Monday’s move saw the world’s 49th largest cryptocurrency surge past its ceiling of $2.77, on its way to its highest point since January 5.
Today’s three-month high came as readings on the RSI indicator were off the charts, as price strength also rose to multi-month highs.
At the time of writing, this 14-day Relative strength Index had a reading at 77.91. This is the highest reading since August 15.
EOS bulls face a dilemma similar to FIL. They can either close out and accept the current gains or deal with market uncertainty due to overbought.
Do you think there is more upside potential in EOS given current levels? Please share your views with us in the comments.
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