SOL Surges 8%, as ATOM Nears 1-Month High – Market Updates Bitcoin News

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Solana was up by almost 8% on Tuesday, as the token rose for a fifth consecutive session. Recent moves have come despite the Christmas and New Year period, where market volumes were somewhat muted. Cosmos was also in the green, as prices rose to a multi-week high.

Solana (SOL)

Solana (SOL) was one of the notable gainers on Tuesday, as the token climbed by as much as 8% in the day.

Following a low of $11.05 on Monday, SOL/USD surged to an intraday peak of $12.02 during today’s session.

The move saw solana rise for a fifth straight day, hitting its highest point since December 23 in the process.

Biggest Movers: SOL Surges 8%, as ATOM Nears 1-Month High
SOL/USD – Daily Chart

Looking at the chart, Tuesday’s surge comes as SOL moved beyond a ceiling of $11.80, with the relative strength index (RSI) also nearing a resistance point.

As of writing, the index is tracking at 50.83, which is moving towards a major ceiling at the 53.00 mark.

This level hasn’t been hit since November 6, when solana was trading above the $30.00 level.

Cosmos (ATOM)

In addition to solana, cosmos (ATOM) was also in the green in today’s session, with price climbing for a third straight day.

ATOM/USD raced to a high of $10.22 on Tuesday, which comes less than a day after trading at a low of $9.77.

This surge in price has pushed cosmos to its highest point since December 10, with it now nearing a key resistance level also.

Biggest Movers: SOL Surges 8%, as ATOM Nears 1-Month High
ATOM/USD – Daily Chart

As can be seen from the chart, this ceiling is at the $10.50 level, which was last hit on December 5.

Recent moves in ATOM have come as the 10-day (red) moving average, crossed over its 25-day (blue) counterpart.

This typically is a sign of current and upcoming bullish sentiment, which could see cosmos bulls attempt to take price above $11.00.

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Could we see cosmos continue to rally this week? 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 retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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