UNI Nears 5-Week High, As SOL Also Climbs – Market Updates Bitcoin News
Uniswap moved closer to its highest point since late August on Thursday as the token extended recent gains. Today’s increase is the fourth day in a row that prices have climbed, causing the token to break out of a key resistance level in the process. Solana was also in the green, recording a seven-day high as a result.
Uniswap (UNI)
Uniswap (UNI) was one of the notable movers of the day, as the token rose for the fourth day in a row.
UNI/USD rallied to an intraday high of $6.99 on Thursday, coming less than a day after trading at a low of $6.49.
Today’s rally in price sees the unswap breaking out of its key resistance point at $6.70, reaching its highest point since August 26 in the process.
Looking at the chart, the bullish momentum in UNI intensified after another breakout, this time on the 14-day relative strength index (RSI.
The index moved past the ceiling of 57.45 during yesterday’s session, and currently stands at 61.47.
A higher ceiling of 63.00 now awaits UNI bulls, who may choose to lock in gains and close positions as the RSI nears this point.
Solana (SOL)
Solana (SOL) climbed to a one-week high on Thursday, as the token collided with a resistance of its own.
The world’s ninth-largest cryptocurrency hit a high of $34.46 in today’s session, its highest point since September 30.
Thursday’s high saw the solana approach a long-term ceiling of $34.50, which has historically been the main obstacle preventing prices from moving to $35.00.
As of this writing, previous gains in SOL have waned somewhat, as bulls moved to secure gains near this point of uncertainty.
The token is currently trading at $34.10, with 14-day RSI tracking at 53.03, which is marginally above a resistance level of 53.00.
Bearish sentiment appears to be preparing to return and should we see further declines in price strength, SOL will likely move below $34.00.
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