Technical Analysis: Cosmos, Harmony Prices Surge on Saturday
Cosmos (ATOM) and concord (ONE) have been a few of right now’s massive gainers, as the worldwide crypto market cap was up 1.23% to begin the weekend. Terra (LUNA) was additionally increased, extending its current positive factors to a sixth consecutive buying and selling session.
Cosmos (ATOM) is presently buying and selling over 13% increased in right now’s session, climbing to its highest degree since February 17.
Saturday’s rally in ATOM/USD noticed costs briefly breakout of the $29.10 resistance degree, hitting an intraday excessive of $29.36 within the course of.
This surge comes because the 14-day RSI climbed to a five-week excessive, and is presently monitoring at 52.09, following a break above 50.40.
Today’s excessive comes lower than 24-hours after ATOM was buying and selling at a low of $25.27, as costs rallied again to assist of $26.10.
Despite the current descending triangle on this chart, worth momentum has slowly begun to stabilize, with the transferring averages trending sideways.
Many see this as an indication of a longer-term reversal, with some already concentrating on the $30.00 level.
The largest gainer right now was undoubtedly harmony (ONE), which has risen by almost 20% within the 24-hours of buying and selling.
As of writing, ONE/USD rose to a excessive of $0.1612 on Saturday, following a second consecutive day of robust positive factors.
ONE was buying and selling at a low of $0.1314 yesterday, which got here as costs moved away from the long-term ground of $0.1249.
This was near the bottom degree for ONE since late September, and was adopted by a surge to resistance at $0.1650.
The 14-day RSI can be presently monitoring at its highest level in ten days, following a break from the 41.70 resistance degree.
Should this momentum proceed on this present course, many bulls will probably be concentrating on exits at $0.2000.
Could we see this occur within the upcoming week? Let us know your ideas within the feedback.