Chainlink surged by nearly 4% during Tuesday’s session, as the token moved towards a one-week high. The move came as cryptocurrencies rebounded, following a slow start to the week. Solana was another big mover, as it headed towards the $24.00 level.
Chainlink (LINK)
Chainlink (LINK) was one of Tuesday’s biggest movers, as price surged by as much as 4% during the session.
LINK/USD hit an intraday peak of $7.42 earlier in the day, following a low of $7.00 to start the week.
Yesterday’s bottom was also a long-term support point, with bulls choosing to reject a breakout on this occasion.
This comes as the 14-day relative strength index (RSI) continued to move away from a floor at the 48.00 mark.
As of writing, price strength is tracking at 52.20, close to a resistance zone of 53.00.
In the event this level is breached, there is a strong possibility that LINK could move towards $7.50.
Solana (SOL)
Solana (SOL) also made strong gains on Tuesday, with bulls pushing price towards the $24.00 level.
After starting the week at a low of $22.49, SOL/USD raced to an intraday peak of $23.68, earlier in the day.
Momentum seems to have shifted in favor of the bulls, with solana now trading at its highest point since last Wednesday.
This is now the third consecutive day that SOL has edged higher, resulting in the RSI nearing a collision with a ceiling at 53.00
Currently, price strength is tracking at 51.87, with a move to the aforementioned target likely to result in SOL moving above $24.00.
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Has the recent spell of market consolidation ended? Let us know your thoughts in the comments.
via Eliman Dambell
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