Solana has undoubtedly been one of this week’s biggest gainers, with price rallying by as much as 33% in recent days. The move comes as the global crypto market cap remained mostly in the green to start the weekend. Chainlink was another big mover, hitting a three-week high.
Solana (SOL)
Solana (SOL) was on the cusp of entering the $30.00 level on Saturday, as bullish momentum continued to intensify.
SOL/USD peaked at $29.74 to start the weekend, following a low at $26.39 the day prior.
Today’s move saw solana climb to its strongest point since July 14, when price hit a high of $32.40.
Overall, solana has risen by as much as 33% in the past seven-day period, with today’s surge leading to yet another breakout on the relative strength index (RSI).
Price strength climbed beyond a ceiling at 74.00 earlier in the day, and is now at a reading of 78.90.
As a result of SOL now being significantly overbought, there is a chance that bears could be looming waiting to send the price lower.
Chainlink (LINK)
Chainlink (LINK) also surged considerably higher to start the weekend, colliding with a key resistance level in the process.
After trading at a low of $7.54 on Friday, LINK/USD peaked at $8.15 earlier in Saturday’s session.
This level has acted as a price ceiling since late July, and today’s rally is the first time LINK has hit this point since October 1.
Saturday’s move came following a breakout of a resistance level at 59.00 on the RSI, with price strength now residing at 64.71.
70.00 is the likely target for current bulls, and should they reach this desired level, LINK could be trading around $8.50.
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How long do you expect chainlink to extend today’s gains? Let us know your thoughts in the comments.
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