Cosmos Climbs Higher, While Solana’s Fall Continues – Market Updates Bitcoin News
After buying and selling decrease for almost all of Monday’s session, cryptocurrency costs have been slowly beginning to discover assist, with just a few markets rallying, as we headed towards the top of the day.
Cosmos
One such crypto was cosmos (ATOM), which was the most important gainer within the prime 20, climbing by nearly 10% to begin the week. ATOM/USD climbed to an intraday excessive of $36.23, which is round $10 from its all-time excessive (ATH), which it hit on January seventh.
Monday’s transfer got here as costs rebounded from the latest assist degree of $31.00, after briefly falling to a secondary assist level of $27.05 over the weekend. That transfer, which now seems to have been a false breakout, has led to bulls pushing costs greater.
Wanting on the chart beneath will even present {that a} downwards cross of the 10-EMA (purple) and 25-EMA (blue) has taken place, which generally indicators bearish momentum, nonetheless with the assist degree being held, may this imply costs could possibly be heading greater?
In accordance with the RSI indicator, ATOM/USD is presently monitoring at 50, which suggests it’s neither oversold, nor overbought, which means that value momentum may shift both means.
Solana
Regardless of Monday’s selloff slowing because the day approached a detailed, costs of solana (SOL) remained decrease.
SOL/USD which is presently #8 within the crypto prime 10, was buying and selling over 11% decrease (as of writing), hitting an intraday low of $81.23 within the course of.
The chart beneath exhibits that Solana has shaped a descending triangle, after a streak of decrease lows, with in the present day’s fall sending costs to their lowest degree since August twenty seventh.
Costs briefly broke out of the worth flooring of $85.15 earlier in in the present day’s session, nonetheless have since rebounded above this degree.
At present, the RSI is monitoring at 23, which is in oversold territory, may this be setting the way in which for bulls to re-enter on Tuesday?
What do you consider cosmos and solana’s value motion? Tell us your ideas within the feedback beneath.
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