Solana's price has increased by as much as 33% in recent days, making it unquestionably one of this week's greatest gainers. The decision was made as the global crypto market cap began the weekend largely in positive territory. Another significant mover was chainlink, which reached a three-week high.
Solana
On Saturday, Solana (SOL) was poised to cross the $30.00 mark as bullish momentum grew stronger.
Following a low of $26.39 the day before, SOL/USD reached a peak of $29.74 to begin the weekend.
Solana's rise today brought the price to its highest level since July 14, when it reached a high of $32.40.
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| SOL/USD--Daily Chart |
In the past seven days, solana prices have increased by up to 33% overall, and today's spike has resulted in yet another breakout on the relative strength index (RSI).
Price strength has since surpassed a ceiling at 74.00 and is currently reading 78.90.
SOL is currently substantially overbought, which raises the possibility that bears may be lurking and ready to drive the price lower.
ChainLink
To begin the weekend, Chainlink (LINK) also soared significantly higher and ran into a significant resistance level.
LINK/USD reached its top early on Saturday after trading at a high of $8.15 on Friday and a low of $7.54 on Thursday.
Since late July, this level has served as a price floor, and today's rise marks the first time LINK has reached this level since October 1.
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| LINK/USD--Daily Chart |
The movement on Saturday happened after the RSI broke over a resistance level at 59.00; the current level of price strength is 64.71.
The current bulls' likely aim is 70.00, and if they succeed, LINK may be trading around $8.50.
How long do you think chainlink will keep the gains from today? Post your comments to let us know what you think.