cosmos (ATOM) and Harmony (ONE) were some of the big gainers today as the global crypto market capitalization surged 1.23% at the start of the weekend. Terra (LUNA) was also higher, extending its recent gains to a sixth consecutive trading session.
cosmos (atom) it is currently trading more than 13% higher in today’s session, reaching its highest level since February 17.
saturday rally in ATOM/USD saw prices briefly break the resistance level of $29.10, reaching an intraday high of $29.36 in the process.
This surge comes as the 14-day RSI surged to a five-week high and is currently at 52.09, after a break above 50.40.
Today’s high comes less than 24 hours later ATOM was trading at a low of $25.27 as prices rallied back up to support at $26.10.
Despite the recent descending triangle on this chart, price momentum has slowly started to level off, with the moving averages trending sideways.
Many see this as a sign of a longer-term reversal, with some already targeting the $30.00 point.
Today’s biggest winner was, without a doubt, harmony (ONE)which is up almost 20% in 24 hours of trading.
At time of writing, ONE/USD rose to a high of $0.1612 on Saturday, after a second straight day of strong gains.
ONE was trading yesterday at a low of $0.1314, which occurred as prices moved away from the long-term floor of $0.1249.
This was close to the lowest level for ONE since late September, and was followed by a rise to resistance at $0.1650.
The 14-day RSI is also currently at its highest point in ten days, following a breakout from the 41.70 resistance level.
If this momentum continues in the current direction, many bulls are likely to target exits at $0.2000.
Could we see this happen in the next week? Let us know your thoughts in the comments.
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