Chainlink (LINK)
Chainlink (LINK) experienced significant gains at the start of the weekend, with the token rising by up to 7% in a single day.
During today’s session, LINK/USD reached a high of $11.59, following a previous low of $10.80.
This increase brings the price closer to its recent 18-month high of $11.78, which was achieved earlier this week.
The rise in LINK’s value coincides with the upward trend of the relative strength index (RSI), currently sitting at 81.68.
If bulls are unable to break through the resistance level at 83.00, there may be a reversal in price.
Cardano (ADA)
Cardano (ADA) also made notable gains on Saturday, approaching its highest level in nine weeks.
After reaching a low of $0.284 on Friday, ADA/USD surged to a peak of $0.2973 during today’s session.
This increase brings Cardano closer to its highest level since mid-August when it traded above $0.30.
The 14-day RSI currently stands above 77.00, which could prompt some bears to enter the market.
As a result, a few bulls have started securing their gains, causing ADA to trade slightly below today’s peak.
Hot Take: Chainlink and Cardano Experience Bullish Momentum
Chainlink and Cardano both saw positive momentum over the weekend, with LINK rising by as much as 7% and ADA nearing a multi-month high. The relative strength index for both cryptocurrencies suggests bullish sentiment, but resistance levels may pose challenges for further price increases. It remains to be seen whether these tokens can break through these levels and continue their upward trajectory.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
