Biggest Movers: LINK Nears 2-Week High, SOL Extends Recent Gains
Chainlink rallied to a 12-day high earlier in today’s session, as the token neared the $7.00 level. The move comes as prices rose for a fourth straight session, climbing by over 5% on Thursday. Solana has been another notable gainer, as prices closed in on a ten-day high. Chainlink (LINK)
Chainlink (LINK ) rose for a fourth straight session on Thursday, with the token nearing a 12-day high in the process.
Following a low of $6.37 on Wednesday, LINK/USD surged to an intraday peak of $6.84 earlier in the day.
The surge in price saw chainlink move to its highest level since November 12, when price was above $7.00. LINK/USD – Daily Chart
Looking at the chart, bulls appear to be targeting a move back above this point, with a ceiling of $7.15 a potential landing spot.
In order to get there, bullish momentum will need to first overcome a resistance of 50.00, on the relative strength index (RSI).
Should this occur, LINK willy likely move above $7.00, en route to the $7.15 price target. Solana (SOL)
Solana (SOL) was once again in the green, as the token continues to move away from a recent all-time low.
SOL/USD, which was a top 10 cryptocurrency prior to the FTX collapse, hit an intraday high of $14.85 earlier today.
As a result of today’s surge, solana was trading at its strongest point since November 15, when price was last above $15.00. SOL/USD – Daily Chart
Earlier gains have somewhat declined, with previous bulls moving to secure gains as the RSI hovered near a resistance point.
Honing in on the chart, the index is currently tracking at 35.96, which is marginally below a key ceiling of 37.00.
Volatility in the markets remains high, as traders continue to move away from projects and tokens which may have high exposure to FTX, and Alameda.
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Could solana return to the top 10 crypto list before the end of the year? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200, as Federal Reserve Set to Pivot Policy MARKET UPDATES | 10 hours ago Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20% MARKET UPDATES | 1 day ago
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