Cosmos rallied as much as 5% in the Wednesday session as the token held near a multi-week high. Cryptocurrency markets consolidated recent gains in today’s session, with global market capitalization down 0.24% as of this writing. Solana continued to trade above $20.00 as prices consolidated.
cosmos (ATOM)
cosmos (ATOM) was back in the green as prices held near a recent multi-week high.
After a high of $13.47 on Tuesday, ATOM/USD reached a high of $13.41 earlier in the session today, before prices have since tumbled.
Since hitting a three-week high during yesterday’s session, the cosmos bulls have moved to consolidate gains, with ATOM it is now trading at $12.55.
Overall, the bulls have apparently moved in for profit, following a failed attempt to break out of the $13.50 top.
Looking at the chart, the decline comes as the 14-day RSI was also unable to break above a resistance zone of its own at 57.00.
At time of writing, the index sits at 51.52, with a floor at 50.00, a possible target for traders.
Solana (SUN)
In addition to ATOMsolana (SOL) also held close to a recent high, despite market sentiment changing in today’s session.
SOL/USD fell to a low of $20.31 earlier in today’s session, hours after peaking at the $22.11 mark.
Yesterday’s high saw solana trade at its strongest since March 2, when the token was trading near $23.00.
From the chart, it appears that the SOL bulls have started to pull away from previous positions, following a collision with a top on the RSI.
The price strength reached a resistance point at the 50.00 level, which has been in place since the end of February.
At time of writing, the index is now tracking at 48.91, with the next bottom visible at the 45.00 level.
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Has the recent bullish wave completely faded? Let us know your thoughts in the comments.
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