SOL, Near Protocol Up Over 10% to Start Week – Market Updates Bitcoin News
Solana moved closer to the $40.00 mark on Monday, as it rose for a sixth straight session to start the week. Bullish momentum in the world’s ninth largest cryptocurrency intensified after a resistance point at $36.35. Near protocol was also in the green, as prices rose by over 10% on Monday.
Solana (SOL)
Solana (SOL) climbed to a three-week high to start the week, as the token moved towards the $40.00 level
After a low of $34.48 on Sunday, SOL/USD could reach a high of $38.15 so far in today’s session.
Today’s rally comes as the token surged past a key resistance level of $36.30 for the time since August 19.
As seen from the chart, Monday’s rally came as the 10-day (red) moving average crossed its 25-day (blue) counterpart for the first time in over a month.
In addition to this, the 14-day relative strength index (RSI) is currently at 61.31, which is the strongest reading since August 13.
This is marginally below a ceiling of 64.05, which is likely to be the main obstacle preventing prices from rising above $40.00.
Near Protocol (NEAR)
Near protocol (NEAR) was another notable mover to start the week, with prices approaching one-month highs.
NEAR/USD was able to climb to a high of $5.25 on Monday, less than 24 hours after trading at a low of $4.72.
Monday’s surge comes as the protocol rose for a sixth consecutive session, with today’s peak the highest point it has reached since August 16.
This recent increase in bullish momentum comes after an upward crossover of the 10-day (red) and 25-day (blue) moving averages last week.
As a result of the price increase, the RSI has moved to its strongest level since August 13, and is currently tracking a reading of 64.25.
Should bulls continue to maintain today’s sentiment, NEAR could continue to move closer to a target price of $5.50.
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