ETC Nears 4-Month High, LINK Hits Highest Point Since June – Market Updates Bitcoin News
Ethereum classic was trading near its highest point since April, as the token surged nearly 10% on Friday. Despite crypto markets being largely in the red in today’s session, a handful of tokens managed to climb higher. Chainlink was another of those tokens, as it hit a two-month high earlier in the day.
Ethereum Classic (ETC)
Etherum classic (ETC) traded near four-month highs in today’s session as the token extended recent gains.
After three consecutive days of gains, ETC/USD rose to an intraday high of $44.31 on Friday.
This comes less than 24 hours after the token hit a low below $38.00 and is now climbing towards a recent high of $45.40.
Looking at the chart, this peak at the $45.40 area is the most ETC has hit since April 7, which came days after prices fell below $50.00.
At the time of writing, ethereum classic has now fallen marginally, and is currently trading at $42.04.
This comes as the 14-day relative strength index (RSI) collided with a resistance level of 71, which is the highest point since July 31.
Should ETC bulls intend to recapture these multi-month highs, this is an obstacle that must be overcome.
Chainlink (LINK)
In addition to ETC, chainlink (LINK) traded higher in today’s session as prices climbed to their highest point since June.
After settling on a floor of $8.85 on Friday, LINK/USD rallied to a high of $9.43 earlier in today’s session.
This peak saw LINK trade at its most since June 9, when it was above a peak of $9.65.
As seen on the chart, the move came as price strength gathered momentum, with the RSI breaking out of the ceiling at 71.
Currently, the indicator is at 72.24, which is the highest point since September 2021.
This could be a problem for bulls in their attempt to reach $10.00, due to prices being overbought.
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Can chainlink reach $10.00 despite overbought? Let us know your thoughts in the comments.
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