2 years ago
ATOM and DOT were trading successful a sideways inclination connected Saturday, arsenic crypto markets were chiefly successful consolidation mode to commencement the weekend. The bulk of the cryptocurrency apical 100 was marginally lower, arsenic traders seemingly consolidated their gains from this week’s action.
Cosmos (ATOM)
After astir 10 consecutive sessions of higher highs, ATOM was consolidating to commencement the weekend, arsenic traders seemingly secured gains.
The token roseate to an intraday apical of $9.34 to commencement the weekend, arsenic bulls proceed to determination towards the $10 mark.
Saturday’s moves comes little than a time from prices trading astatine a debased of $8.93, to present connected the cusp of a imaginable breakout.
Over the past 3 weeks ATOM/USD has astir doubled successful value, climbing from a level of $5.48 connected June 18, to its existent constituent today.
This rally came pursuing a crossover of the 10-day and 25-day moving averages (MA), respectively, which enticed traders to instrumentality agelong positions.
However, with the RSI present moving into a partition astatine its 58.38 point, immoderate of this momentum whitethorn slow, with traders alternatively taking profits, alternatively than maintaining unfastened positions.
Polkadot (DOT)
Following a dilatory commencement to the day, DOT shook disconnected marketplace uncertainty to marginally emergence during today’s session.
DOT/USD surged to a highest of $7.35 to commencement the weekend, which follows connected from a debased of $6.97 connected Friday.
Today’s enactment present sees DOT moving person to a ceiling of $7.50, a constituent it has not breached successful the past 10 days.
Whilst prices person consolidated beneath this ceiling since June 29, terms spot besides remains nether a absorption constituent — 1 that has been successful spot for implicit 3 months.
The 14-day Relative Strength Index is presently tracking astatine 45.10, which is beneath the ceiling of 46.90, which hasn’t been breached since April 5.
Despite this, DOT has climbed by astir 7% successful the past week, starring the 10-day MA to adjacent a imaginable transverse with its 25-day counterpart.
Providing this occurs, not lone could prices ascent supra $7.50, but we whitethorn spot bulls people the $8.50 mark.
Could we spot DOT ascent to arsenic precocious arsenic $10 during the period of July? Let america cognize your thoughts successful the comments.
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