Uniswap approached its highest price since late August on Thursday as the token extended its recent rally. Today’s surge led to a fourth consecutive day of price gains, breaking the token out of a key resistance line in the process. Solana was also in the green, resulting in a seven-day high.
Uniswap (UNI)
Uniswap (UNI) was one of the notable moves of the day as the token rose for a fourth straight day.
UNI/USD ran up to an intraday high of $6.99 on Thursday in less than a day after trading as low as $6.49.
Today’s price surge means that Uniswap broke through a key resistance point of $6.70, hitting its highest point since August 26 in the process.
The chart shows that UNI’s bullish momentum strengthened after another breakout, this time in the 14-day relative strength index (RSI).
It crossed the 57.45 ceiling in yesterday’s session and is at 61.47 at the time of writing.
A high ceiling of 63.00 now awaits UNI bulls. They may opt to take profits and close positions as the RSI approaches this point.
Solana (SOL)
Solana (SOL) rose to a one-week high on Thursday as the token collided with its own resistance.
The world’s ninth-largest cryptocurrency hit a high of $34.46 in today’s session, its highest point since September 30.
Thursday’s high indicated that Solana was approaching a long-term ceiling of $34.50, which has historically been the main obstacle preventing prices from moving to $35.00.
As of this writing, SOL’s earlier rally has eased somewhat and bulls have moved to secure profits near this uncertain point.
The token is currently trading at $34.10 and the 14-day RSI is tracking at 53.03, just above the 53.00 resistance level.
Bearish sentiment appears poised to return, and if we see any further decline in price strength, SOL will likely head below $34.00.
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