Solana crossed the $40.00 threshold on Monday as the price rose for the sixth consecutive session. Bullish momentum in the world’s ninth largest cryptocurrency intensified, following a breakout of a resistance point of $36.35. Prices rose more than 10% Monday, indicating that Near Protocol was in the green.
Solana, (SOL) reached a three week high to begin the week. The token moved toward the $40.00 mark.
Following a low of $34.48 on Sunday, SOL/USD was able to reach a peak of $38.15 so far in today’s session.
Today’s rally comes as the toke rose past a key resistance level of $36.30 for the time since August 19.
As seen from the chart, Monday’s rally came as the 10-day (red) moving average crossed its 25-day (blue) counterpart for the first time in over a month.
Added to that, the 14 day relative strength index (RSI), is at 61.31. This is its highest reading since August 13.
It is slightly below the ceiling at 64.05 which would likely prevent prices rising to $40.00.
Near Protocol (NEAR).
NEAR protocol (NEAR), was another noteworthy mover that started the week with high prices.
NEAR/USD managed to reach a maximum of $5.25 Monday morning, just 24 hours after it traded at $4.72.
Monday’s surge comes as near protocol rose for a sixth consecutive session, with today’s top the highest point it has reached since August 16.
The recent bullish momentum surge is due to an upwards crossing of the 25-day (red), as well as 10-day (blue), moving Averages.
Due to the price rise, the RSI is at its strongest since August 13. It now stands at 64.25.
If bulls maintain their current mood, NEAR may continue to trade closer to $5.50.
Register here and get price analysis alerts sent directly to your inbox every week.
Is it possible that near protocol will reach $5.50 this September? We’d love to hear your comments.
Images CreditsShutterstock.com, Pixabay. Wiki Commons.
DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.