Biggest Movers: LEO Hits 1-Week High, ATOM Rebounds From Recent Declines
UNUS SED LEO rose to a one-week high on Thursday, as prices rebounded following a three-day losing streak. Another token which rebounded in today’s session was cosmos, which climbed higher following five straight days of declines. Overall, crypto markets are down 1.09% as of writing. UNUS SED LEO (LEO)
UNUS SED LEO (LEO) rebounded on Thursday, following three straight days of lower lows.
Following a bottom of $4.73 on Wednesday, LEO/USD rallied to an intraday peak of $5.23 in today’s session.
However, Thursday’s rally came as LEO bulls pushed prices higher, following the earlier breakout of a $4.80 support point. LEO/USD – Daily Chart
Today’s peak is the strongest point the token has hit in the last week, and comes as a ceiling was broken within the relative strength index (RSI).
As of writing, the 14-day RSI is tracking at 50.22, following a move past its resistance point of 48.11.
Should this momentum continue throughout the week, bulls will likely look at exiting around a price point of $5.40 which has historically acted as a ceiling. Cosmos (ATOM)
After five straight days of declines, cosmos (ATOM) rose higher on Thursday, as the token also rebounded.
ATOM/USD hit a peak of $14.75 in today’s session, as bulls rejected a breakout of a key support point.
Bearish sentiment had threatened ATOM, with prices at $13.30 on Wednesday, however traders saw this as an opportunity to buy the dip. ATOM/USD – Daily Chart
It was only last Friday, September 9, that cosmos was trading at a four-month high of $17.20, and it appears that some still believe further highs are ahead.
Currently price strength remains in-between overbought and oversold, tracking at a point of 59.00.
A ceiling is at 61.00, and should this point be broken, then we will likely see more bulls reenter the market.
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Will cosmos continue to climb back towards recent highs this week? 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. Crypto, Stocks, PMs Sink Lower — All Eyes on the Fed’s Next Rate Hike as Ethereum’s Merge Hype Wavers MARKET UPDATES | 6 hours ago Bitcoin, Ethereum Technical Analysis: ETH Drops Below $1,600 Following Completion of The Merge MARKET UPDATES | 10 hours ago
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