• Solana (SOL) rose by as much as 8% to start the week and moved towards a one-month high.
• Chainlink (LINK) was also higher, hitting a three-week high.
• Both tokens surged after breakouts of ceilings on their relative strength index (RSI).
Biggest Movers: SOL Over 8% Higher to Start the Week
Solana (SOL) rose by as much as 8% to start the week, moving closer to a one-month high. Chainlink (LINK) was also higher, hitting a three-week high. Both tokens surged after breakouts of ceilings on their relative strength index (RSI).
Solana’s RSI Breakout
Following a low of $21.59 on Sunday, SOL/USD raced to an intraday peak of $23.83 earlier in the day. As a result of Monday’s move, solana has now moved to its strongest point since late-February. Overall, the token is now trading nearly 10% higher from the same point last week, when price was below $20.00. Today’s surge has come following a breakout of a ceiling on the 14-day relative strength index (RSI), which is currently tracking at 58.85 – marginally higher than its ceiling at the 57.00 mark.
Chainlinks RSI Breakout
In addition to SOL, chainlink (LINK) was also in the green to start the week, with prices trading by as much as 3% higher. LINK/USD rose to a peak of $7.38 earlier in the day and is now at its highest level since March 2nd when it was trading at $7.57. The surge came following a breakout which took place on the RSI indicator which is now tracking at 57 – marginally higher than resistance at 55 Should this upward momentum continue in the coming days, LINK will likely collide with a ceiling at $7.60..
Global Banking Crisis Spurs Cryptocurrency Rise
The global banking crisis has been pushing investors towards cryptocurrencies such as Solana and Chainlink over recent weeks and months – helping spur their respective rises during this period . This trend is expected to continue into 2021 as investors look for more secure options for their money amid turbulent times in traditional financial markets worldwide..
Overall, both solana and chainlink have surged over recent sessions following breakouts of ceilings on their relative strength indexes; potentially signaling further gains ahead for these two tokens if they can continue this upwards momentum in coming days..