Biggest Movers: DOT Remains Near Multi-Month High, as LINK Hits 9-Day High
Polkadot remained close to its highest level since September, as bullish sentiment rose to start the weekend. Following a move above $7.00 on Friday, momentum was high during Saturday’s session. Chainlink was also higher, with prices tracking at a nine-day high. Polkadot (DOT)
Polkadot (DOT) remained close to a multi-month high on Saturday, following a breakout above a $7.15 resistance level.
DOT/USD surged to an intraday high of $7.39 to start the weekend, following a low of $6.71 the day prior.
Following Friday’s low, the token rose significantly higher as the day progressed, climbing to a six-month peak of $7.42. Dot chart by TradingView
As a result of this move, the 10-day (red) moving average is now nearing an upwards cross with its 25-day (blue) counterpart.
This comes less than a week after a downward cross, however, momentum seems to have already shifted.
Should bulls maintain this trajectory, it is likely that $8.00 will be the short-term target. Chainlink (LINK)
Chainlink (LINK) also moved higher to start the weekend, with prices climbing to a nine-day high.
Following a low of $7.26 on Friday, LINK/USD raced to a peak of $7.71 earlier in today’s session.
The move came as chainlink broke out of a resistance level at $7.60, with prices at their strongest point since February 9. Chainlink chart by TradingView
Overall, earlier gains have somewhat diminished, with the relative strength index (RSI) moving towards a long-term floor at 59.00.
As of writing this, the price strength is tracking at 59.83, with chainlink now trading lower at $7.55.
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Could chainlink move above $8.00 this weekend? 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 online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,700, as Markets Rebound on Saturday MARKET UPDATES | 11 hours ago Biggest Movers: MATIC Rallies, Hitting Fresh 10-Month High MARKET UPDATES | 1 day ago
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