Technical Analysis: Bitcoin Hits $40,000, as LEO Leads Friday Rally

Bitcoin rallied supra $40,000 connected Friday, however, this was not the biggest mover successful crypto markets to extremity the week. Cryptocurrencies climbed today, pursuing quality that implicit 400,000 jobs were added to the U.S. system past month.

Biggest gainers

Bitcoin (BTC) climbed to $40,000, ethereum was accelerated approaching $3,000, with Solana nearing $110, however, nary of these were today’s large mover.

That grant went to UNUS SED LEO, which roseate by a whopping 30% connected Friday, and astir 55% implicit the people of the past 7-days.

LEO/USD, roseate to an intraday precocious of $5.48, pursuing its debased of $4.02 during yesterday’s session.

Today’s quality comes arsenic LEO broke past its caller absorption level of £$3.88 earlier this week, earlier falling successful Thursday’s reddish wave.

LEO/USD – Daily Chart

The determination came arsenic the moving averages of 10-days (red) and 25-days (blue) had an upward crossover for the archetypal clip since December 29.

In summation to this, the RSI present tracks astatine 81, which is heavy successful overbought territory, which whitethorn giveaway to nett takers implicit the weekend.

Biggest losers

Relatively speaking, determination were not galore bears connected Friday, with lone 2 of the apical 99 cryptocurrencies marginally falling.

However, if you scrolled down to the #100 listed cryptocurrency, markets were not truthful benignant to yesterday’s biggest gainer, immutable X (IMX).

IMX was down by implicit 22% today, pursuing its 35% emergence connected Thursday, arsenic traders apt chose to instrumentality profits, alternatively than support their positions.

Earlier successful today’s session, IMX/USD slipped backmost to enactment of $3.01, aft trading astatine a precocious supra $5.40 little than 24-hours ago.

IMX/USD – Daily Chart

The RSI of 14-days besides fell beneath the 50 level, and present tracks astatine 45.98, and appears to beryllium heading deeper into oversold territory.

Have markets already begun to uncertainty the worth of the IMX, Gamestop partnership? Let america cognize your thoughts successful the comments.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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