Cosmos rose for the fourth consecutive session to start the weekend, as prices approached the point of resistance. while the universe (corn(extended gains, tezos)XTZ) has bounced back after a string of recent losing sessions, with bulls seemingly buying on the dip this week.
Cosmos (corn) extended its last bullish run on Saturday, with prices now rising for four consecutive sessions.
The coin surged to an intraday high of $8.33 to start the weekend, with prices so far up more than 12% in today’s session.
Saw this last step cornThe dollar is approaching the resistance level at $8.90, which appears to be the last remaining obstacle in the way of the $10 level.
As of writing, prices have fallen from previous highs, with corn It is now trading at $8.12, which is still 11.75% higher than Friday’s low of $7.29.
Looking at this chart, today’s gains are starting to roll back as the 14-day RSI capped at 51, and is currently tracking at 49.
After a four-day winning streak, the bulls seem to be locking in gains, however we can see the trend continuing, if the relative strength exceeds the currency’s resistance level.
On the other side of the spectrum, tezos XTZ The coin fell for four consecutive sessions before the day’s rally.
After falling $1.34 on Friday, XTZThe US dollar rose to an intraday high of $1.45 to start the weekend.
This is the price hike we are seeing right now XTZ It was trading nearly 8% higher as bulls bought the coin at the recent support level near $1.33.
After the false breakout on June 19, tezos managed to trade above this floor, and the bulls made sure that this was the case again, despite increased volatility this week.
Overall, the coin is currently down 7% from the same point last week, but the 10-day moving average (red) shows that the short-term momentum is still somewhat higher.
If there is a crossover of the 10 and 25 day moving average, there will be not only a break of the $1.70 resistance, but also a real attempt by the bulls to reclaim the $2 mark.
We’ll see more gains in XTZ End of this week? Let us know your thoughts in the comments.
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