by Eliman Dambell
Move rose for a second consecutive session on Tuesday, because the token climbed by 12% earlier within the day. The rebound comes after costs fell to a one-month low over the weekend. Cosmos was additionally within the inexperienced, because it, too, hit a five-day excessive. General, the worldwide crypto market cap is up 0.68% as of writing.
Move (FLOW) was one of many notable movers throughout Tuesday’s session, because the token rose by as a lot as 12% in the present day.
On Sunday, FLOW fell to its lowest stage in over one month, as cryptocurrency markets fell sufferer to an inflow of bearish strain.
Since then costs have rebounded, shifting away from yesterday’s low of $1.77, hitting a peak of $2.08 earlier within the day.
Right this moment’s surge noticed FLOW/USD virtually collide with a key resistance level at $2.10, which precipitated some uncertainty in worth motion.
Following its earlier peak, FLOW is now buying and selling at $1.94, as earlier bulls moved to liquidate their positions, sending costs decrease.
As seen on the chart, this will even be as a result of 14-day relative power index (RSI) hitting a resistance level of its personal on the 40.00 mark.
One other massive mover up to now in the present day has been cosmos (ATOM), which additionally rose for a second straight day.
Following a low of $10.16 on Tuesday, ATOM/USD raced to an intraday excessive of $11.86 earlier in the present day.
Right this moment’s transfer sees ATOM drop to its lowest level in 5 days, from when the token was buying and selling above $13.00.
Wanting on the chart, though the token climbed past its key resistance stage of $11.50, earlier positive factors diminished, as merchants moved to safe income.
As of writing, cosmos is now buying and selling at $11.25, falling under the aforementioned worth ceiling.
Ought to merchants look to increase the run of the previous two days, the RSI might want to transfer previous an upcoming impediment which stands at 52.00.
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Eliman brings a eclectic viewpoint to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.
Picture Credit: Shutterstock, Pixabay, Wiki Commons, Dragos Asaftei / Shutterstock.com
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