Solana rose 5% in today’s session as cryptocurrencies began to recover from Friday’s red wave. Global market capitalization was up almost 2% at the time of writing. Chainlink also rose, returning above a key resistance level.
Solana (SOL)
Solana (SOL) moved back above the $20.00 mark to start the weekend, as the token was up 5% today.
After bottoming at $19.81 on Friday, SOL/USD hit an intraday high at $21.25 on Saturday.
The rebound came as solana collided with an intermediate low at $19.90, which acted as the last line of defense after a break below $20.00.
Looking at the chart, there was a similar bounce at the same time on April 10, which then led SOL to a six-day winning streak.
Saturday’s rally also came as the Relative Strength Index (RSI) broke through a high at 45.00.
As of this writing, the index is now trailing at 46.49, with the next point of resistance visible at 50.00.
Chain link (LINK)
Chainlink (LINK) also rose during today’s session as the price broke above a key price level.
LINK/USD hit a high of $6.63 to start the weekend, hours after falling to a low of $6.37.
Today’s price rise saw the link break above a long-term high of $6.50, having traded above that mark for the past two months.
From the chart, the upside has seen price strength rise to its own high at 42.00, but has so far failed to break above that level.
Price strength is now at a reading of 41.20, with a support point at 40.00, in case the momentum begins to change.
A slight change has already occurred, with LINK now trading at $6.58, which is slightly below previous highs.
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