The rebirth of Cosmos and Solana!

Cosmos hit its highest point since May today as crypto markets surged on Thursday. The global market cap is trading at over 6.27%, with bullish sentiment spreading. Solana was trading over 10% today.

Cosmos (ATOM)

Cosmos traded higher on Thursday as the token hit its highest level since May. After a low of $11.72 in today’s session, US ATOM hit an intraday high of $12.27 earlier in the day.

This was ATOM’s highest level since May 23, when the token was at a high above the $12.30 region.

ATOM- Daily Chart

Looking at the chart, this latest price surge follows a rebound from a support point of $11.15, which occurred during Wednesday’s session. This price rally pushed the 14-day Relative Strength Index (RSI) towards a resistance level of 63, which has been in place since July 21.

If the index is to extend its recent streak of results, it will need to break above this ceiling, but Cosmos finally appears to be heading higher.

Solana (SOL)

Solana (SOL) stock traded higher as prices climbed more than 10% during today’s session. SOL hit a high of $45.00 earlier in today’s session.

This high saw SOL trade at its highest value since July 30, when the token was above the current resistance level of $45.00.

Biggest moves: ATOM hits its highest level since May, while SOL is up more than 10%.
SOL – Daily Chart

Since hitting this point earlier in the day, the price of SOL has slipped somewhat and stands at $44.10. The bulls appear to have abandoned their prior positions, in exchange for securing profits, which has resulted in a slight uncertainty in the price movement.

This uncertainty has been reinforced by the fact that the RSI is also close to its own ceiling of 59. If we want to see the Solana continue its advance, it will be necessary to break this point of resistance.

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