Dogecoin rebounded from a recent slide on Friday as cryptocurrency markets shook off yesterday’s bearish wave. The meme coin is now up more than 5%, one day after falling by the same amount. Chainlink was another notable mover, as prices rose more than 7%.
Dogecoin (DOGE)
Dogecoin (DOGE) rallied as much as 5% in today’s session as the meme coin rallied from yesterday’s bear run.
Following a low of $0.07007 on Thursday, DOGE/USD hit an intraday high of $0.07579 earlier today.
The move came as dogecoin bulls bought yesterday’s dip, in which prices fell to a bottom at the $0.07000 mark.
Looking at the chart, the rally also coincided with the 14-day RSI breaking a top at the 45.00 mark.
At time of writing, the index is marginally above this point, with a current reading of 45.52.
The next visible point of resistance looks to be a top at 47.00, which seems to be one reason why previous bulls have started to exit previous positions.
Chain Link (LINK)
In addition to DOGE, chainlink (LINK) was also in the green in today’s session, with prices trading as much as 7% higher.
LINK/USD rose to a high of $7.17 earlier in the session today, after falling to $6.57 the day before.
Friday’s rally came after LINK bears failed to hold a break of a long-term support point of $6.60.
However, the bulls were able to overcome a resistance point at 50.00 on the RSI, which was one of the catalysts for today’s rally.
At time of writing, the index is at 52.71, which is close to a top in the 54.00 area.
In the short term, the bulls may try to send the token to $7.50, however, there seem to be several obstacles in the way that could prevent this.
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