Polkadot rose to multi-week highs earlier in the week as prices rose for the second consecutive day. The token briefly broke out of a key resistance point during Monday’s surge. Chain Link also moved to its highest price in nearly two weeks, and this token is currently trading about 13% higher than it has in the past seven days.
Polkadot (DOT)
Polkadot (DOT) rose for the second consecutive session as the token’s price approached a two-week high.
After hitting a low of $7.21 on Sunday, DOT/USD surged to an intraday high of $7.61 to end the week.
The move represents a rapid retreat after the polka dot briefly broke above its long-term resistance level of $7.60.
As the chart shows, this resistance point is historically uncertain and sentiment around this area has been dominated by bears recently.
From the previous high, the DOT is currently trading at $7.52, as bulls opted to secure their gains shortly after hitting the aforementioned resistance line.
The bulls will continue to target a breakout and will likely use the $8.10 ceiling as an exit point.
Chain Link (LINK)
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Chain Link (LINK) was high again Monday, and this one is also approaching its strongest level in two weeks.
LINK/USD surged to a weekly high of $7.25, which is the highest since August 25.
Like the polka dot, Monday’s move led to a breakout, with LINK surging past the $7.20 ceiling.
The move came as the 14-day Relative Strength Index (RSI) resistance was broken through.
As of this writing, the index is at 51.28, above the long-term ceiling of 50.00.
At this rate, the LINK bulls will likely attempt to retake the $7.50 level.
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