LINK held close to a one-month high in today’s session, as the crypto markets shrugged off some of Tuesday’s volatile moves. Although the price remained volatile, the bulls returned to show force, with ADA continuing to climb higher this week.
LINK was trading at one-month highs during today’s session, after a recent four-day rally.
The run started near the $6.70 support level, and took the price above its recent resistance point at $8.80.
As a result of the move, LINK/USD climbed to a four-week high of $8.95 late Tuesday, taking the price to an all-time high of $8.86 in today’s session.
Looking at the charts, the move crosses the 10- and 25-day moving averages, which is the first time it has happened since March 20.
Moreover, the 14-day relative strength index (RSI) is hovering around 56.21, its highest level in two months.
So far, LINK bulls have rested after their earlier highs, with the potential for bears to re-enter resistance. Now the question is will we see a breakout this week.
While LINK has risen for four straight sessions, ADA climbed for the fifth consecutive day on Wednesday as prices broke through the resistance.
ADA/USD made an intraday peak of $0.6537 earlier today, its highest point since May 31.
Today’s move saw the price cross a high of $0.6460, which resulted in the jump to a nine-day high.
While bullish momentum is still present in ADA, traders will look for a move from a one-week high to a one-month high by adopting the $0.6897 mark.
A resistance has already been eclipsed, as the RSI moved beyond its ceiling at 54.50, reaching a two-month high.
A drive to $0.6897 could occur earlier this week, and if it does, the bears can wait for the line of resistance to hold.
Which token will break the resistance first, LINK or ADA? Let us know your thoughts in the comments.
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