LINK Hits 6-Week High, UNI Up 16% on Tuesday – Market Updates Bitcoin News
Chainlink hit a six-week high during Tuesday’s session, as the token rose for a sixth consecutive session. The move saw the token rise past a key resistance level in the process. Uniswap was also in the green, with prices climbing as much as 16% earlier in the day.
Chainlink (LINK)
Chainlink (LINK) rose for a sixth consecutive day on Tuesday, taking the token to its strongest point since mid-August.
After trading to a floor of $6.55 last Wednesday, LINK/USD has rallied in back-to-back sessions, with prices hitting a high of $8.36 today.
Tuesday’s high is the highest mark reached by chainlink since August 17, days after a failed breakout from the $9.50 level.
Looking at the chart, today’s price rally came after a successful move above a ceiling of $8.05.
In addition to this, there was another breakout, with the 14-day relative strength index (RSI) marginally climbing past its own resistance.
At the time of writing, the index now follows 61.03, which is the highest point since 14 August.
Uniswap (UNI)
Another notable gainer on Tuesday was the unswap, which rose as much as 16% during the day’s session.
UNI/USD rose to a high of $6.68 on Tuesday, sending prices climbing to their highest point since September 13.
As a result of today’s move, the uniswap is now trading near a ceiling of $6.70, which has historically been a point of contention.
Previous gains have waned somewhat as the day has gone on, and at the time of writing, the token is trading at $6.61.
This is a result of the RSI also approaching a barrier of 58.00, which has resulted in some traders liquidating previous positions.
For the UNI to move above $7.00 in the coming days, the RSI will likely need to move past the 58.00 mark.
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Do you expect UNI to climb above $7.00 in the coming days? Let us know your thoughts in the comments.
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