Polkadot remained close to its highest level since September, as bullish sentiment rose to start the weekend. Following a move above $7.00 on Friday, momentum was high during Saturday’s session. Chainlink was also higher, with prices tracking at a nine-day high.
Polkadot (DOT)
Polkadot (DOT) remained close to a multi-month high on Saturday, following a breakout above a $7.15 resistance level.
DOT/USD surged to an intraday high of $7.39 to start the weekend, following a low of $6.71 the day prior.
Following Friday’s low, the token rose significantly higher as the day progressed, climbing to a six-month peak of $7.42.
As a result of this move, the 10-day (red) moving average is now nearing an upwards cross with its 25-day (blue) counterpart.
This comes less than a week after a downward cross, however, momentum seems to have already shifted.
Should bulls maintain this trajectory, it is likely that $8.00 will be the short-term target.
Chainlink (LINK)
Chainlink (LINK) also moved higher to start the weekend, with prices climbing to a nine-day high.
Following a low of $7.26 on Friday, LINK/USD raced to a peak of $7.71 earlier in today’s session.
The move came as chainlink broke out of a resistance level at $7.60, with prices at their strongest point since February 9.
Overall, earlier gains have somewhat diminished, with the relative strength index (RSI) moving towards a long-term floor at 59.00.
As of writing this, the price strength is tracking at 59.83, with chainlink now trading lower at $7.55.
Register your email here to get weekly price analysis updates sent to your inbox:
Could chainlink move above $8.00 this weekend? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
