Biggest Movers: SOL Slips Again as ATOM Drops 10% to Start the Weekend
SOL was trading lower to start the weekend, as prices slipped on Saturday. This comes as bears re-entered the market following a week of consolidation. ATOM was one of the biggest movers, falling by 10%. Cosmos (ATOM)
After climbing by over 15% on Friday, ATOM was one of the biggest losers on Saturday, as prices fell by over 10%.
ATOM/USD followed up yesterday’s peak of $12.12 by falling to an intraday low of $10.82 to start the weekend.
The move comes as ATOM moved back towards its floor of $9.90, just as some were preparing for a rally towards $15.00. ATOM/USD – Daily Chart
However, instead of this, we have seen ATOM move back towards a ten-day low, as bearish pressure pushed prices lower.
Looking at the chart, the drop comes as the Relative Strength Index (RSI) failed to break out of a ceiling at 38.
Markets will now likely continue to move around the current support point, prior to any further rallies or possible declines.
Solana (SOL)
SOL fell to ninth in the list of most valuable crypto tokens in the world, as markets were once again red to start the weekend.
Following a peak of $52.11 on Friday, SOL moved lower, hitting an intraday low of $48.05 in the process.
Saturday’s sell-off sees ADA leapfrog solana to be the eighth most valuable token, as prices dropped by over 7% in today’s session. SOL/USD – Daily Chart
Overall, prices are now trading closer to the long-term support level of $47, which is near a ten-month low.
Looking at the chart, the 14-day RSI is now hovering around 34, which is below a resistance point of 36.
Should price strength continue to track this level throughout the weekend, it is unlikely that we will see any significant changes in price. Tags in this story Analysis, atom, SOL
Do you expect SOL to end the weekend trading above $60? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Back Below $2,000 to Start the Weekend MARKET UPDATES | 11 hours ago Biggest Movers: Cosmos Climbs 15%, as AAVE Nears a 10-Day High MARKET UPDATES | 1 day ago
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