ATOM Hits 4-Month High, CLOSE Up 10% on Thursday – Market Updates Bitcoin News
Cosmos moved to a four-month high in today’s session as crypto markets rebounded from Wednesday’s selloff. The prices of the token broke out of a key resistance point this afternoon, reaching the milestone. Close to the protocol was another notable draw, as it hit a three-week high.
Cosmos (ATOM)
Cosmos (ATOM) rallied to a four-month high this afternoon, as prices of the token broke out of a key price point.
After hitting a low of $11.98 on Wednesday, ATOM/USD rallied nearly $2.00 in today’s session, hitting a high of $13.92 in the process.
Thursday’s rally comes as the token raced past the $13.35 ceiling, on its way to its highest level since May 11.
Looking at the chart, ATOM has been in an ascending triangle since hitting a low of $5.62 in mid-June.
Bulls of the token now look like they may be targeting the $15.00 mark, which would see the token rise by almost $10.00 in just under two months.
To achieve this milestone, the token needs to overcome a hurdle on its relative strength index (RSI), which will come in the form of a ceiling of 63.30.
Near Protocol (NEAR)
Another notable gainer on Thursday was near protocol (NEAR), which rose to a multi-week high earlier in the day.
NEAR/USD was able to hit a high of $4.63 today as prices rose for the second session in a row.
Unlike the cosmos, which moved past its own price ceiling, the near protocol failed to break out of the resistance, after nearly colliding with the $4.65 level.
At the time of writing, prices are at $4.60 as bulls are still trying to break out of this aforementioned obstacle.
For this to happen, we may need to see the 10-day (red) and 25-day (blue) moving averages cross, which could come soon, as they increase nearby.
Should this happen, there will be a high chance of the near term moving closer to $5.00.
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What is behind today’s 10% increase in close protocol? Let us know your thoughts in the comments.
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