Despite trading being lower on the crypto market today, Tezos (and LINK) both reached one-month heights on Thursday. XTZ was up by 8.5% during today’s session, whilst LINK rose by nearly 9% in the day. Global crypto market cap has fallen 0.55% to the time of writing.
Chainlink (LINK).
LINK continued its recent run on Thursday, as prices rose by almost 9% during today’s trading session.
After dropping to $8.49 Wednesday, LINK/USD surged to an intraday top of $9.46, making it a 4-week high.
Today’s peak saw prices rise to their highest point since May 10, as LINK made its way down from the $11 level.
However, LINK is now poised for a surge as a result recent runs and will eventually regain the $10 mark.
After a false breakout yesterday, Thursday’s move also saw prices fully move beyond resistance at $8.80.
The 14-day RSI was two points lower than the ceiling at 64 as of the writing of this article. This could signal bulls that they should close positions earlier and make gains.
Tezos (XTZ)
LINK also saw a 4 week high for XTZ on Thursday. Prices climbed up as much as 9%.
As of writing, XTZ/USD hit an intraday high of $2.23 in today’s session, which is its highest level since May 9.
The chart shows that prices moved slightly above $2.20 resistance, but then slipped as the session went on.
Although prices continue to remain close to today’s highs, the fact that the Relative Strength Index has hit a ceiling has worried previous bulls.
Ultimately, what’s happening with XTZ could be what happens with LINK when the RSI reaches its own resistance.
Tezos bulls may still seek to surpass the current price ceiling. Traders target the $2.50 threshold.
Could we possibly see XTZ rise to $2.50 over the next few days? Please share your views with us in the comments.
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