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Biggest Movers: DOT Remains Near Multi-Month High, as LINK Hits 9-Day High

News Feed - 2023-02-18 11:02:50

Biggest Movers: DOT Remains Near Multi-Month High, as LINK Hits 9-Day High


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. Dot chart by TradingView



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. Chainlink chart by TradingView



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: Tags in this story Analysis, Chainlink, DOT, LiNK, Polkadot


Could chainlink move above $8.00 this weekend? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,700, as Markets Rebound on Saturday MARKET UPDATES | 11 hours ago Biggest Movers: MATIC Rallies, Hitting Fresh 10-Month High MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: ETH Back Above $1,700, as Markets Rebound on Saturday Next articleCustodia CEO Slams US Government Over Broad Crackdown, Lack of Regulatory Clarity in Crypto Industry 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales


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