SOL Surges 8%, as ATOM Nears 1-Month High – Market Updates Bitcoin News
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Solana gained nearly 8% on Tuesday as the token rose for the fifth consecutive session. Recent moves have come despite the Christmas and New Year period, when market volumes were somewhat muted. Cosmos was also in the green as prices rose to multi-week highs.
Solana (SOL) was one of the notable gainers on Tuesday, with the token gaining as much as 8% on the day.
After hitting a low of $11.05 on Monday, SOL/USD rose to an intraday high of $12.02 during today’s session.
With the move, Solana rose for the fifth day in a row, reaching its highest point since December 23rd.
Looking at the chart, Tuesday’s rally comes as SOL crossed the $11.80 ceiling and the Relative Strength Index (RSI) is also nearing resistance.
As of this writing, the index is tracking at 50.83, heading for a major ceiling at 53.00.
This level has not been reached since November 6, when Solana traded above the $30.00 level.
In addition to Solana, Cosmos (ATOM) was also in the green in today’s session, and the price rose for the third day in a row.
ATOM/USD hit a high of $10.22 on Tuesday, less than a day after trading as low as $9.77.
This price rally has taken the cosmos to its highest level since December 10th, and it is also now close to a key resistance level.
As you can see on the chart, this ceiling is at the $10.50 level, which was last hit on December 5th.
Recent moves in ATOM have come in the form of a 10-day (red) moving average that has been crossed above its 25-day (blue) counterpart.
This is typically a sign of a current and future uptrend, which may see the space bulls attempt to push the price above $11.00.
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Could we see the cosmos continue to rise this week? Let us know what you think in the comments.
The authors of the picture: Shutterstock, Pixabay, Wiki Commons
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