Cosmos climbed by as much as 5% in Wednesday’s session, as the token remained close to a multi-week high. Cryptocurrency markets consolidated recent gains in today’s session, with the global market cap down by 0.24% as of writing. Solana continued to trade above $20.00, as prices consolidated.
Cosmos (ATOM)
Cosmos (ATOM) was once again in the green, as prices remained close to a recent multi-week high.
Following a high of $13.47 on Tuesday, ATOM/USD hit a peak of $13.41 earlier in today’s session, before prices have since plunged.
Since hitting a three-week high during yesterday’s session, cosmos bulls have moved to consolidate gains, with ATOM now trading at $12.55.
Overall, bulls have seemingly moved to take profits, following a failed breakout attempt of the $13.50 ceiling.
Looking at the chart, the decline comes as the 14-day relative strength index (RSI) was also unable to move past a resistance zone of its own at 57.00
As of writing, the index is tracking at 51.52, with a floor at 50.00 a possible destination for traders.
Solana (SOL)
In addition to ATOM, solana (SOL) also remained near a recent high, despite market sentiment shifting in today’s session.
SOL/USD fell to a low of $20.31 earlier in today’s session, hours removed from a peak at the $22.11 mark.
Yesterday’s high saw solana trade at its strongest point since March 2, when the token was trading close to $23.00.
From the chart, it appears that the SOL bulls began shifting away from earlier positions, following a collision with a ceiling on the RSI.
Price strength hit a point of resistance at the 50.00 level, which has been in place since late-February.
As of writing, the index is now tracking at 48.91, with the next visible floor at the 45.00 level.
Register your email here to get weekly price analysis updates sent to your inbox:
Has the recent bull wave completely faded? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer