Technical Analysis: Cosmos, Harmony Prices Surge on Saturday

Cosmos (ATOM) and harmony (ONE) were immoderate of today’s large gainers, arsenic the planetary crypto marketplace headdress was up 1.23% to commencement the weekend. Terra (LUNA) was besides higher, extending its caller gains to a sixth consecutive trading session.

Cosmos (ATOM)

Cosmos (ATOM) is presently trading implicit 13% higher successful today’s session, climbing to its highest level since February 17.

Saturday’s rally successful ATOM/USD saw prices concisely breakout of the $29.10 absorption level, hitting an intraday precocious of $29.36 successful the process.

This surge comes arsenic the 14-day RSI climbed to a five-week high, and is presently tracking astatine 52.09, pursuing a interruption supra 50.40.

ATOM/USD – Daily Chart

Today’s precocious comes little than 24-hours aft ATOM was trading astatine a debased of $25.27, arsenic prices rallied backmost to enactment of $26.10.

Despite the caller descending triangle connected this chart, terms momentum has dilatory begun to stabilize, with the moving averages trending sideways.

Many spot this arsenic a motion of a longer-term reversal, with immoderate already targeting the $30.00 point.

Harmony (ONE)

The biggest gainer contiguous was undoubtedly harmony (ONE), which has risen by astir 20% successful the 24-hours of trading.

As of writing, ONE/USD roseate to a precocious of $0.1612 connected Saturday, pursuing a 2nd consecutive time of beardown gains.

ONE was trading astatine a debased of $0.1314 yesterday, which came arsenic prices moved distant from the semipermanent level of $0.1249.

This was adjacent to the lowest level for ONE since precocious September, and was followed by a surge to absorption astatine $0.1650.

ONE/USD – Daily Chart

The 14-day RSI is besides presently tracking astatine its highest constituent successful 10 days, pursuing a interruption from the 41.70 absorption level.

Should this momentum proceed successful this existent direction, galore bulls volition apt beryllium targeting exits astatine $0.2000.

Could we spot this hap successful the upcoming week? Let america cognize your thoughts successful the comments.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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