LINK Approaching 2-Week High, SOL Extends Recent Gains – Market Updates Bitcoin News
Chainlink rose to a 12-day high earlier in today’s session as the token neared the $7.00 level. The move comes as prices rose for a fourth consecutive session, climbing more than 5% on Thursday. Solana has been another notable gainer, as prices closed at a ten-day high.
Chainlink (LINK)
Chainlink (LINK) rose for a fourth straight session on Thursday, with the token approaching a 12-day high in the process.
After a low of $6.37 on Wednesday, LINK/USD rose to an intraday high of $6.84 earlier in the day.
The price increase saw chainlink move to its highest level since November 12, when the price was above $7.00.
Looking at the chart, bulls appear to be targeting a pullback above this point, with a ceiling of $7.15 a potential landing spot.
To get there, bullish momentum must first overcome resistance at 50.00, on the Relative Strength Index (RSI).
Should this happen, LINK is likely to move above $7.00, heading towards the $7.15 price target.
Solana (SOL)
Solana (SOL) was once again in the green, as the token continues to move away from a recent all-time low.
SOL/USD, which was a top 10 cryptocurrency before the FTX collapse, hit an intraday high of $14.85 earlier today.
As a result of today’s rally, solana traded at its strongest point since November 15th, when the price was last above $15.00.
Earlier gains have pared somewhat, with earlier bulls moving to lock in gains as the RSI hovered near a resistance point.
After entering the chart, the index is currently trading at 35.96, which is marginally below a key ceiling of 37.00.
Volatility in the markets remains high as traders continue to move away from projects and tokens that may have high exposure to FTX and Alameda.
Register your email here to get weekly price analysis updates delivered to your inbox:
Can solana return to the top 10 crypto list before the end of the year? Let us know your thoughts in the comments.
Image credit: Shutterstock, Pixabay, Wiki Commons, sdx15 / 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 an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for damages or losses caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
