FLOW Moves to Highest Point Since May, DOT Quickly Approaches $10 Level – Market Updates Bitcoin News
Flow was in the green to start the week, as the token climbed to its highest point since May. The increase has sent prices up as much as 15% on Monday as recent rallies were extended. Polkadot was also higher as it also cemented multi-month highs.
FLOW
FLOW was one of Monday’s most notable movements, with prices of the token increasing by as much as 15% in today’s session.
After trading at a low of $2.59 on Sunday, FLOW/USD rose to an intraday high of $3.13 to start the week.
This move saw FLOW rise to its highest point since May 11, when prices traded above $4.00.
Looking at the chart, today’s top comes when the token broke out of its long-term resistance at $3.00.
The increase comes as price strength continues to rise, which at the time of writing is being tracked in overbought territory.
Currently, the Relative Strength Index (RSI) is at 75.28, which is near its highest point since April.
This can be positive for bears who expect imminent price drops.
Polka dot (DOTS)
While FLOW moved to a three-month high, polkadot (DOT) moved to its highest level in nearly two months.
DOT/USD rallied to an intraday high of $9.36 to start the week, less than 24 hours after settling at a low of $8.54.
As a result of Monday’s rally, DOT briefly moved above the $9.30 price ceiling, which is one of the last lines of defense for a move above $10.00.
Since hitting earlier highs, the polka dot rally has slowed somewhat, as bulls likely moved to lock in profits.
This drop in momentum coincides with the 14-day RSI hitting a separate resistance level near the 67 mark.
If the DOT wants to extend the move toward the $10.00 mark, relative strength must overcome this hurdle.
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Do you expect the polka dot to rise to $10 this week, despite being overbought? Let us know your thoughts in the comments.
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