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Highest Movers: Tezos and Chainlink Gains to 1-Month Highs on 9th June

11-Jun-2022 By: Somesh Gaur
Highest Movers: Tezo


Highest Movers: Tezos and Chainlink Gains to 1-Month Highs on 9th June

Tezos and LINK both hit one-month highs on Thursday, despite the crypto market trading down today. Today's session saw XTZ gain 8.5 percent, while LINK gained over 9 percent. As of this writing, the global crypto market cap is down 0.55 percent.

Chainlink (LINK)

Following a low of $8.48 on Wednesday, the LINK/USD pair rose to a four-week high of $9.45 intraday on Thursday. Prices rose to its greatest level since May 10 at today's top, as LINK dropped from the $11 level.

However, following recent gains, LINK now appears to be on track to leap even higher, reclaiming the $10 level in the process. After a failed breakout the day before, prices finally broke through resistance at $8.81 on Thursday.

The 14-day RSI is currently two points below its ceiling of 65, which could be a signal to bulls to close earlier positions and secure gains.

Tezos (XTZ)

In addition to LINK, XTZ reached a four-week high on Thursday, with prices rising by as much as 9%. As of this writing, the XTZ/USD pair has touched an intraday high of $2.21, its best level since May 9.

The advance put prices barely over a resistance level of $2.21 on the chart, but they slipped up as the day went.Although prices have remained close to today's highs, past bulls have been concerned that the Relative Strength Index has reached a limit.

Finally, as the RSI reaches its own barrier, what is happening with XTZ could happen to LINK.

Tezos bulls are still expecting to break through the current price cap, with dealers aiming for $2.50.


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