Polkadot held near its highest level since September as bullish sentiment picked up to start the weekend. Following a move above $7.00 on Friday, momentum was high during the session on Saturday. Chainlink was also higher, with prices trailing at a nine-day high.
Polka Dots (POINT)
Polkadot (DOT) was holding near a multi-month high on Saturday, following a break above a $7.15 resistance level.
DOT/USD rose to an intraday high of $7.39 to start the weekend, after a low of $6.71 the day before.
Following Friday’s low, the token rallied significantly higher as the day progressed, hitting a six-month high of $7.42.
As a result of this move, the 10-day moving average (red) is now approaching an upcross with its 25-day counterpart (blue).
This comes less than a week after a downside crossover, however the momentum appears to have changed.
If the bulls hold this trajectory, $8.00 is likely to be the short-term target.
Chain Link (LINK)
Chainlink (LINK) also rallied to kick off the weekend, with prices rallying to a nine-day high.
After a low of $7.26 on Friday, LINK/USD reached a high of $7.71 earlier in today’s session.
The move came as Chainlink broke through a resistance level of $7.60, with prices at their strongest since February 9.
Overall, past gains have eased somewhat, with the RSI moving towards a long-term bottom at 59.00.
As of this writing, price strength lies at 59.83, with Chainlink now trading lower at $7.55.
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Could Chainlink move above $8.00 this weekend? Let us know your thoughts in the comments.
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