GRT and LINK Rise to Multi-Week Highs on Friday – Market Updates Bitcoin News


The chart was a notable driver in the Friday session, as the coin surged to a multi-week high. Prices are up as much as 16% in today’s session, with Chainlink’s price also up by a double. Overall, the global cryptocurrency market cap is up 1.92% at the time of writing.

Graph (GRT)

One of the biggest movers in the cryptocurrency markets was the chart (GRT) on Friday, as the token price surged more than 16%.

After a low of $0.1082 during the Thursday session, GRT/USD rose to an intraday high of $0.1373 earlier today.

Today’s move saw a symbolic breakout of the key resistance level at $0.1305, hitting its highest point since June 11 in the process.

Biggest movers: GRT, LINK advance to multi-week highs on Friday
GRT/USD – daily chart

As a result of this increased bullish momentum, the GRT saw its 14-day RSI reach a three-month high at 64.89.

Now that the coin has moved into the overbought territory, the bears are likely to prepare for a re-entry, with a ceiling at $0.1585 as a possible entry point.

If the current trend continues, this is likely to be a bullish target, with many gains likely to lock in at that point.

chainlink (link)

In addition to GRT, Chain Link (LINK) was also in the green during today’s session, with prices up more than 10%.

Friday saw the coin soaring to a high of $7.83 as prices surged past the recent ceiling of $7.40.

As with GRT, this point is the highest level LINK has traded since June 11, and comes less than 24 hours after the price dropped to $6.76.

Biggest movers: GRT, LINK advance to multi-week highs on Friday
LINK / USD – daily chart

The 14-day RSI is also now at a three-month high, with the 10-day and 25-day moving averages trending upwards.

If this continues, the next potential target for the bulls could be above $9, with a ceiling likely at $9.50.

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Will we see a chain link hit $10 in August? Let us know your thoughts in the comments.

Eleman Dambel

Eliman offers an eclectic view of market analysis, having served as a brokerage manager, retail trading educator and market commentator on Crypto, Stocks, and FX.




photo credits: Shutterstock, Pixabay, Wikicommons

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