Cosmos (ATOM) and Harmony (ONE) were some of the big gainers today, as the global crypto market cap was up 1.23% to start the weekend. Terra (LUNA) was also higher, extending its recent gains for the sixth consecutive trading session.
Cosmos (ATOM) is currently trading 13% higher in today’s session, having climbed to its highest level since February 17.
Saturday’s rally in ATOM/USD saw prices briefly break out of the $29.10 resistance level, reaching an intraday high of $29.36 in the process.
The jump comes with the 14-day RSI climbing to a five-week high, and is currently tracking 52.09 after a break above 50.40.
ATOM/USD – Daily Chart
Today’s high comes less than 24 hours after ATOM traded at a low of $25.27, as the price bounced back to support at $26.10.
Despite the recent descending triangle on this chart, the price momentum is slowly starting to stabilize, with the moving average moving sideways.
Many see this as a sign of a longer term reversal, with some already targeting the $30.00 mark.
The biggest gainer today was undoubtedly Harmony (ONE), which is up almost 20% in 24 hours of trading.
As of writing, ONE/USD rose to a high of $0.1612 on Saturday after strong gains for the second day in a row.
ONE was trading at a low of $0.1314 yesterday, which happened when the price broke away from the long-term level of $0.1249.
It was close to ONE’s lowest level since late September, and was followed by an increase in resistance at $0.1650.
A/USD – Daily Chart
The 14-day RSI is also currently tracking its ten-day high after breaking above the 41.70 resistance.
If the momentum continues in this current direction, many bulls are likely to target an exit above $0.2000.
Can we see this happen in the coming week? Let us know your thoughts in the comments.
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