The crypto market shook off Tuesday’s volatility, holding LINK near a one-month high early in today’s session.
Chain Link (LINK)
LINK was trading near one-month highs in today’s session following a recent four-day bull run.
It opened near the $6.70 support level and took prices above the recent resistance point at $8.80.
As a result of this move, LINK/USD rose to a four-week high of $8.95 late Tuesday and peaked at $8.86 so far in today’s session.
The chart also shows the 10-day and 25-day moving averages crossing, which has not happened since March 20.
Also, the 14-day Relative Strength Index (RSI) is hovering around 56.21, which is its highest level in over two months.
So far, LINK bulls have relaxed following previous highs, probably due to bears re-entering at resistance. The question is whether we will see a breakout this week.
Cardano (ADA)
LINK rose for the fourth straight session whilerose for the fifth straight session.ADArose for the fifth straight day on Wednesday as prices broke through resistance.
ADA/USD rose to an intraday peak of $0.6537 earlier today, the highest since May 31.
Today’s move pushed prices to the $0.6460 ceiling, and this surge resulted in a nine-day high.
While bullish momentum continues on the 81}81} ADA, traders are looking for $0.6897 above the $0.6897 level, which would be a one-week high to a one-month peak.
One resistance has already been eclipsed as the RSI has reached a two-month peak above the 54.50 ceiling.
A drive to the $0.6897 point could come as early as this week, and if it does, the bears will likely be waiting for resistance to hold.
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