Flows opened the week in the green as tokens rose to their highest price since May. This surge extended the recent run-up, which saw prices rise as much as 15% on Monday. Polkadot also moved higher, consolidating multi-month highs.
FLOW
FLOW was one of Monday’s most notable moves, with the token’s price up 15% in today’s session.
After trading as low as $2.59 on Sunday, FLOW/USD rose to an intraday high of $3.13 to start the week.
With this move, FLOW rose to its highest point since May 11, when prices were trading above $4.00.
The chart shows that today’s peak came when the token broke out of long-term resistance at $3.00.
surge as price strength continues to rise and is tracking in overbought territory at the time of writing.
The Relative Strength Index (RSI) is currently at 75.28, which is near its highest level since April.
This could be a positive for bears who anticipate an imminent price decline.
Polkadot (DOT)
FLOW is at a 3-month high while polkadot (DOT) is at a nearly 2-month high.
DOT/USD surged to an intraday peak of $9.36 at the end of the week, less than 24 hours after remaining at a low of $8.54.
As a result of Monday’s spike, the DOT briefly surpassed the $9.30 price ceiling, one of the last lines of defense against a move above $10.00.
Polkadot’s gains have eased somewhat since the earlier highs, as bullish sources appear to have moved in to secure profits.
This loss of momentum coincides with the 14-day RSI hitting its own resistance line near the 67 mark.
Relative strength should overcome this obstacle if the DOT wants to extend its move toward the $10.00 mark.
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Image credits: Shutterstock, Pixabay, Wiki Commons, Dragos Asaftei / Shutterstock.com
