Cosmos ran higher for the second straight session, after recently snapping a four-day losing streak. The move on Friday saw the token approach a key resistance level of $12.50. Solana rallied earlier in the day as well, as the price bounced off a key support point.
cosmos (ATOM)
cosmos (ATOM), was one of the notable gainers on Friday, as the token approached a key resistance level.
After a low of $11.70 on Thursday, ATOM/USD reached an intraday high of $12.38 today.
As a result of this move, the Cosmos moved towards a resistance point at the $12.50 level, which was last reached on Monday.
Looking at the chart, the 14-day RSI is also near its own top at 66.00.
The index is currently sitting at 65.85, which could lead to marginal consolidation, with previous bulls opting to liquidate their positions.
However, if this aforementioned ceiling is broken, then it is likely that ATOM it could move towards $13.00.
Solana (SUN)
What ATOMsolana (SOL) rose as well, as the token continued to pull away from a support point at $20.00.
SOL/USD rose to a high of $21.77 earlier in the session, and continued from a low of $20.53 the day before.
Today’s rally sees sunshine in a bullish attempt to regain market momentum, following recent price declines.
As can be seen on the chart, the move came despite the RSI holding below its own ceiling at 68.00.
Because of this, previous gains have slowed down a bit, as traders seemed to be preparing for another reversal.
The solana is currently trading at $21.43, with longer-term bulls likely to target an exit at the $24.00 mark.
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Could Solana hold this rally for the next few weeks? Let us know your thoughts on it in the comments.
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