A 4-month high is reached by ATOM, and NEAR rose 10% on Thursday

September 8, 2022

shutterstock 1393345469

A 4-month high is reached by ATOM, and NEAR rose 10% on Thursday. Kosmos hit a four-month high in today’s session as cryptocurrency markets recovered from Wednesday’s selloff. The price of this token broke out of a key resistance point this afternoon and reached a turning point. There was another notable move closer to normal when it hit a three-week high. The price of the Cosmos token (ATOM) hit a four-month high this afternoon, breaking out of a key point. After Wednesday’s low of $11.98, ATOM/USD rallied nearly $2.00 to a high of $13.92 in today’s session.

Thursday’s rally came as the token rose above $13.35 and was on track to reach its highest level since May 11. Looking at the chart, ATOM is in an ascending triangle after hitting a low of $5.62 in mid-June. The token seems headed for a target of $15 now, which could increase by almost $10 in two months. To reach this milestone, the token needs to break through the barrier of Relative Strength Index (RSI), which takes the form of a ceiling at 63.30.
Another notable gainer on Thursday was near normal (NEAR), which hit multi-week highs earlier in the day. NEAR/USD managed to reach a high of $4.63 today as prices rose for the second session in a row.

Unlike Cosmos, which broke through the price, it failed to break the resistance after falling around the $4.65 level, which is close to normal. At the time of writing, prices are at $4.60 as the bulls continue to struggle to fully break the aforementioned barrier. For this to happen, it may be necessary to break the 10-day (red) and 25-day (blue) moving averages, which could soon mark a short-term rally. If this happens, there will be a good chance to approach the standard around $5.00.

Read more: Dogecoin (DOGE) Has Been Increasing This Month Despite the Failure of the Twitter-Musk Deal

Exclusively hand curated news, written precisely in short by our editors for a 60 seconds read! We understand that reading multiple news from various resources could be monotonous, time consuming and less interesting. At Dcryptonews, you will experience a new style of reading news with smart keyword, ease of language that is easy to read for a quick news grasp.