Biggest Movers: ETC Nears 4-Month High, LINK Hits Highest Point Since June
Ethereum classic was trading close to its highest point since April, as the token rose by nearly 10% on Friday. Despite crypto markets being mostly in the red in today’s session, a handful of tokens managed to climb higher. Chainlink was another one of these tokens, as it hit a two-month high earlier in the day. Ethereum Classic (ETC)
Etherum classic (ETC) was trading close to a four-month high in today’s session, as the token extended recent gains.
Following three consecutive days of gains, ETC/USD rallied to an intraday high $44.31 on Friday.
This comes less than 24 hours after the token was at a low below $38.00, and it’s now climbing towards a recent high of $45.40. ETC/USD – Daily Chart
Looking at the chart, this peak at the $45.40 area is the most ETC has hit since April 7, which came days after prices fell below $50.00.
As of writing, ethereum classic has now marginally declined, and is currently trading at $42.04.
This comes as the relative strength index (RSI) of 14 days collided with a resistance level of 71, which is the highest point since July 31.
Should ETC bulls intend to recapture those multi-month highs, then this is an obstacle that must be overcome. Chainlink (LINK)
In addition to ETC, chainlink (LINK) was trading higher in today’s session, as prices climbed to their highest point since June.
After residing at a floor of $8.85 on Friday, LINK/USD surged to a high of $9.43 earlier in today’s session. LINK/USD – Daily Chart
This peak saw LINK trade at its most since June 9, when it was above a peak of $9.65.
As seen on the chart, the move came as price strength gained momentum, with the RSI breaking out of its ceiling at 71.
Currently the indicator is at a reading of 72.24, which is its highest point since September 2021.
This could be an issue for bulls in their attempts to reach $10.00, due to prices currently being overbought.
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Can chainlink hit $10.00 despite being overbought? 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: BTC Hovers Below $24,000 on Friday, as Crypto Markets Consolidate MARKET UPDATES | 11 hours ago Biggest Movers: ATOM Climbs to Highest Point Since May, While SOL Rises by Over 10% MARKET UPDATES | 1 day ago
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