Biggest Movers: LINK Hits 6-Week High, UNI up 16% on Tuesday
Chainlink hit a six-week high during Tuesday’s session, as the token rose for a sixth consecutive session. The move saw the token rally past a key resistance level in the process. Uniswap was also in the green, with prices climbing by as much as 16% earlier in the day. Chainlink (LINK)
Chainlink (LINK) rose for a sixth straight day on Tuesday, which took the token to its strongest point since mid-August.
After trading at a floor of $6.55 last Wednesday, LINK/USD has rallied in back-to-back sessions, with today seeing prices hit a high of $8.36.
Tuesday’s top is the highest mark that chainlink has hit since August 17, days after a failed breakout from the $9.50 level. LINK/USD – Daily Chart
Looking at the chart, today’s price surge came after a successful move beyond a ceiling of $8.05.
In addition to this, there was another breakout, with the 14-day relative strength index (RSI) marginally climbing past a resistance of its own.
As of writing, the index is now tracking at 61.03, which is its highest point since August 14. Uniswap (UNI)
Another notable gainer on Tuesday was uniswap, which rose by as much as 16% during today’s session.
UNI/USD surged to a high of $6.68 on Tuesday, which saw prices climb to their highest point since September 13.
As a result of today’s move, uniswap is now trading near a ceiling of $6.70, which has historically been a point of contention. UNI/USD – Daily Chart
Earlier gains have somewhat eased as the day has progressed, and as of writing the token is trading at $6.61.
This is a result of the RSI also nearing a hurdle of 58.00, which has resulted in some traders liquidating earlier positions.
In order for UNI to move above $7.00 in the coming days, the RSI will likely need to move past the 58.00 mark.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Chainlink, LiNK, UNI, uniswap
Do you expect UNI to climb above $7.00 in the coming days? 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: BTC Back Above $20,000 as Bulls Return to Crypto Markets MARKET UPDATES | 10 hours ago Biggest Movers: LUNC up 40% on Monday, as Do Kwon Faces Possible Arrest MARKET UPDATES | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com Previous articleMature Bitcoin Wealth Taps an All-Time High — Diamond Hands Trend Highlights ‘Refusal to Spend’ Next articleSpace and Time Secures $20 Million Strategic Funding Led by Microsoft’s M12 to Automate the World’s Business Logic Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin