Biggest Movers: ATOM, SOL Remain Close to Multi-Week Highs, as Markets Consolidate Recent Gains

March 15, 2023

Cosmos climbed by as a lot as 5% in Wednesday’s session, because the token remained near a multi-week excessive. Cryptocurrency markets consolidated current features in immediately’s session, with the worldwide market cap down by 0.24% as of writing. Solana continued to commerce above $20.00, as costs consolidated.

Cosmos (ATOM)

Cosmos (ATOM) was as soon as once more within the inexperienced, as costs remained near a current multi-week excessive.

Following a excessive of $13.47 on Tuesday, ATOM/USD hit a peak of $13.41 earlier in immediately’s session, earlier than costs have since plunged.

Since hitting a three-week excessive throughout yesterday’s session, cosmos bulls have moved to consolidate features, with ATOM now buying and selling at $12.55.

Overall, bulls have seemingly moved to take earnings, following a failed breakout try of the $13.50 ceiling.

Looking on the chart, the decline comes because the 14-day relative power index (RSI) was additionally unable to maneuver previous a resistance zone of its personal at 57.00

As of writing, the index is monitoring at 51.52, with a flooring at 50.00 a attainable vacation spot for merchants.

Solana (SOL)

In addition to ATOM, solana (SOL) additionally remained close to a current excessive, regardless of market sentiment shifting in immediately’s session.

SOL/USD fell to a low of $20.31 earlier in immediately’s session, hours faraway from a peak on the $22.11 mark.

Yesterday’s excessive noticed solana commerce at its strongest level since March 2, when the token was buying and selling near $23.00.

From the chart, it seems that the SOL bulls started shifting away from earlier positions, following a collision with a ceiling on the RSI.

Price power hit a degree of resistance on the 50.00 stage, which has been in place since late-February.

As of writing, the index is now monitoring at 48.91, with the subsequent seen flooring on the 45.00 stage.

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