After two consecutive sessions of declines, DOT rebounded in price on Friday, moving away from multi-week lows; while DOT rose away from these lows, RUNE fell and the token RUNE prices are down over 10% at the time of writing.
Polka Dot (DOT)
DOT had a remarkable Friday session as prices recovered from two consecutive days of losses.
After two days of declines, DOT/USD fell to a bottom of $8.61 on Thursday, but then rallied about 10% today.
Today’s move saw the DOT record an intraday high of $9.91 as it moved away from recent lows near support at $9.05.
The chart suggests that the next price target for bulls will be the $10.50 ceiling, which has held mostly steady for the past 10 days.
Currently hovering at 38.85, bulls will be paying close attention as the 39.50 level on the RSI looks like a hard ceiling.
This could mean that some bulls may try to push prices above the $10 threshold and then liquidate their positions before hitting the ceiling.
Saw Chain (RUNE)
While the DOT moved away from its own support level on Friday, RUNE moved toward it today as prices fell over 10%.
After peaking above $3.15 in Thursday’s session, RUNE/USD fell to a low of $2.45 later in the day.
The low came as prices fell below a recent support point of $2.62, hitting their lowest level since May 12 in the process.
As a result of this 15-day low, the Relative Strength Index currently stands at 29.91, which is not only extremely oversold but also a bottom.
Bulls looking for positives can probably only tip their hats to this, as it could mean that bearish momentum is coming to an end.
But if not, it is inevitable that the bears will target below $2.13 to take RUNE to an 18-month low.
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