ATOM Hits 4-Month High, NEAR up 10% on Thursday – Market Updates Bitcoin News

0
23

Cosmos moved to a four-month high in today’s session, as crypto markets rebounded following Wednesday’s sell-off. Prices of the token broke out of a key resistance point this afternoon, reaching the milestone. Near protocol was another notable mover, as it hit a three-week high.

Cosmos (ATOM)

Cosmos (ATOM) raced to a four-month high this afternoon, as prices of the token broke out of a key price point.

Following a low of $11.98 on Wednesday, ATOM/USD rose by nearly $2.00 in today’s session, hitting a high of $13.92 in the process.

Thursday’s rally comes as the token raced past its ceiling of $13.35, en route to its highest level since May 11.

Biggest Movers: ATOM Hits 4-Month High, NEAR up 10% on Thursday
ATOM/USD – Daily Chart

Looking at the chart, ATOM has been in an ascending triangle since hitting a low of $5.62 in mid-June.

Bulls of the token now look as if they could be targeting the $15.00 mark, which would see the token rise by almost $10.00 in just under two months.

In order to achieve this milestone, the token will need to overcome a hurdle on its relative strength index (RSI), which will come in the form of a ceiling at 63.30.

Near Protocol (NEAR)

Another notable gainer on Thursday was near protocol (NEAR), which rallied to a multi-week high earlier in the day.

NEAR/USD was able to reach a peak of $4.63 today, as prices rose for a second consecutive session.

Unlike cosmos, which moved past its own price ceiling, near protocol was unable to break out of its resistance, after almost colliding with the $4.65 level.

Biggest Movers: ATOM Hits 4-Month High, NEAR up 10% on Thursday
NEAR/USD – Daily Chart

As of writing, prices are at $4.60, as bulls still attempt to fully break out of this aforementioned hurdle.

For this to occur, we may need to see the 10-day (red) and 25-day (blue) moving averages cross, which could come soon, as they increase in proximity.

Should this occur, there will be a strong chance of near protocol moving closer to $5.00.

Register your email here to get weekly price analysis updates sent to your inbox:

What is behind today’s 10% surge in near protocol? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons, Vladimka production / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

bitcoin news india, bitcoin current price in india, bitcoin binance, bitcoin buy india

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here