Tezos and LINK hit one-month highs on Thursday, despite a drop in the crypto market today. XTZ is up 8.5% during today’s session, while LINK is up almost 9% on the day. Overall, the global crypto market cap is down 0.55% as of writing.
Chainlink (Link)
LINK continued its recent run on Thursday, as prices gained nearly 9% during today’s trading session.
After Wednesday’s low of $8.49, LINK/USD climbed to an intraday peak of $9.46 on Thursday, cementing a four-week high.
Today’s peak saw the price rise to its highest point since May 10, as LINK made its way up from the $11 level.
However, as a result of recent runs, LINK is now set to rise even further, eventually reclaiming the $10 mark in the process.
Thursday’s move also saw the price move further above the resistance at $8.80, following a false breakout yesterday.
As of writing, the 14-day RSI is two points below the 64 range, which could signal the bulls to close earlier positions to gain gains in the process.
Tezos (XTZ)
In addition to LINK, XTZ also hit a four-week high on Thursday, rallying up to 9% in price.
At the time of writing, XTZ/USD hit an intraday high of $2.23 in today’s session, its highest level since May 9.
Looking at the charts, the move took the price slightly above the $2.20 resistance level, but it slipped as the session progressed.
Although the price remained close to today’s high, the fact that the Relative Strength Index moved higher has worried the previous bulls.
Ultimately, what is happening with XTZ is what could happen to LINK once the RSI hits its resistance.
Tezos bulls will still be hoping to cross the current price range, with traders targeting the $2.50 level.
Can we see a rally of XTZ to $2.50 in the coming days? Let us know your thoughts in the comments.
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