Both Tezos and LINK rose to one-month highs on Thursday despite today’s crypto market trading down. XTZrose 8.5% in today’s session, while LINK gained about 9% in one day. Overall, the global crypto market size is down 0.55% at the time of writing.
Chain Link (LINK)
LINK continued its recent run on Thursday as prices rose nearly 9% in today’s trading session.
After hitting a low of $8.49 on Wednesday, LINK/USD rallied to an intraday peak of $9.46 on Thursday, consolidating a four-week high.
Today’s peak was the first time since May 10 that the LINK has rallied to a high since May 10, as the LINK moved down from the $11 level.
However, as a result of the recent rally, LINK is likely to rise further and eventually retake the $10 point.
After yesterday’s false breakout, Thursday’s move confirmed that price has moved fully above the $8.80 resistance.
At the time of this writing, the 14-day RSI is two points below the ceiling of 64, which could signal bulls to close out previous positions and secure profits in the process.
In addition to LINK,XTZalso rose to a four-week high on Thursday, with prices up 9%.
At the time of writing,XTZ/USD hit an intraday high of $2.23 in today’s session, the highest level since May 9.
The chart showed a slight move above the $2.20 resistance level, which slipped away as the session progressed.
The price remains near today’s high, but the relative strength index has hit a ceiling, which has worried bulls so far.
After all, what is happening inXTZis what can happen in LINK when the RSI hits its own resistance.
Tezos bullishness probably still wants to overcome the current price ceiling, and traders are aiming for the $2.50 level.
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