Teknisk analys: Kosmos klättrar högre, Medan Solanas höst fortsätter

Efter att ha handlat lägre under större delen av måndagen’s session, priserna på kryptovalutor började sakta finna stöd, med ett fåtal marknader på uppgång, när vi gick mot slutet av dagen.

Innehåll

Kosmos

One such crypto was kosmos (ATOM), which was the biggest gainer in the top 20, climbing by almost 10% att starta veckan. ATOM/USD climbed to an intraday high of $36.23, which is around $10 from its all-time high (ATH), which it hit on January 7th.

Mondays move came as prices rebounded from the recent support level of $31.00, after briefly falling to a secondary support point of $27.05 over the weekend. That move, which now appears to have been a false breakout, has led to bulls pushing prices higher.

Looking at the chart below will also show that a downwards cross of the 10-EMA (red) and 25-EMA (blue) has taken place, which typically signals bearish momentum, however with the support level being held, could this mean prices could be heading higher?

According to the RSI indicator, ATOM/USD is currently tracking at 50, which means it is neither oversold, nor overbought, meaning that price momentum could shift either way.

Solana

Despite Mondays selloff slowing as the day approached a close, prices of solana (SOL) remained lower.

SOL/USD which is currently #8 in the crypto top 10, was trading over 11% lower (i skrivande stund), hitting an intraday low of $81.23 in the process.

The chart below shows that Solana has formed a descending triangle, after a streak of lower lows, with todays fall sending prices to their lowest level since August 27th.

Prices briefly broke out of the price floor of $85.15 earlier in today’s session, however have since rebounded above this level.

För närvarande, the RSI is tracking at 23, which is in oversold territory, could this be setting the way for bulls to re-enter on Tuesday?

What do you think about cosmos and solanas price action? Let us know your thoughts in the comments below.