Polkadot remained near its highest level since September as bullish sentiment rose to start the weekend. Following a move above $7 on Friday, there was momentum in Saturday’s session. Chainlink was also higher, hovering at a 9-day high.
Polkadot (DOT)
Polkadot (DOT) remained near multi-month highs on Saturday after breaking above the $7.15 resistance level.
DOT/USD surged to an intraday high of $7.39 over the weekend after hitting a low of $6.71 the previous day.
Following Friday’s low, the token rallied significantly as the day wore on, reaching a six-month high of $7.42.
As a result of this move, the 10-day (red) moving average is now approaching an upward intersection with the 25-day (blue) moving average.
Less than a week after the downcross, momentum already seems to be changing.
If the bulls maintain this trajectory, $8.00 is a likely near-term target.
Chain Link (LINK)
Chain Link (LINK) also moved higher to start the weekend, with prices rising to a 9-day high.
LINK/USD followed Friday’s low of $7.26 and surged to a peak of $7.71 early in today’s session.
The move was the first time since February 9 that the chain link broke out of the $7.60 resistance line and prices showed strength.
Overall, the earlier rally has weakened somewhat, with the Relative Strength Index (RSI) heading toward a long-term bottom at 59.00.
As of this writing, price strength is tracking at 59.83 and the chain link is currently trading at $7.55.
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