{"id":20902,"date":"2023-05-13T14:29:34","date_gmt":"2023-05-13T14:29:34","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sol-up-5-as-link-breaks-key-resistance-level-on-saturday-market-updates-bitcoin-news\/"},"modified":"2023-05-13T14:29:34","modified_gmt":"2023-05-13T14:29:34","slug":"sol-up-5-as-link-breaks-key-resistance-level-on-saturday-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sol-up-5-as-link-breaks-key-resistance-level-on-saturday-market-updates-bitcoin-news\/","title":{"rendered":"SOL up 5%, as LINK Breaks Key Resistance Level on Saturday \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Solana rose by as much as 5% in today\u2019s session, as cryptocurrencies began to recover from Friday\u2019s red wave. The global market cap was up by nearly 2% at the time of writing. Chainlink also rose, moving back above a key resistance level.<\/strong><\/p>\n

Solana (SOL)<\/h2>\n

Solana (SOL) moved back above the $20.00 mark to start the weekend, as the token rose by as much as 5% today.<\/p>\n

Following a low of $19.81 on Friday, SOL\/USD jumped to an intraday peak at $21.25 on Saturday.<\/p>\n

The rebound came as solana collided with an interim floor at $19.90, which has acted as the last line of defense following breakout below $20.00.<\/p>\n

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SOL\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, there was a similar rebound at the same point on April 10, which then led SOL to going on a six-day win streak.<\/p>\n

Saturday\u2019s rally also came as the relative strength index (RSI) jumped beyond a ceiling at the 45.00 mark.<\/p>\n

At the time of writing this, the index is now tracking at 46.49, with the next visible point of resistance at 50.00.<\/p>\n

Chainlink (LINK)<\/h2>\n

Chainlink (LINK) also moved higher in today\u2019s session, with price breaking out of a key price point.<\/p>\n

LINK\/USD raced to a high of $6.63 to start the weekend, hours after falling to a low of $6.37.<\/p>\n

Today\u2019s jump in price has seen chainlink move above a long-term ceiling of $6.50, after trading above this mark for the last two-months.<\/p>\n

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LINK\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

From the chart, the rise has seen price strength rise to a ceiling of its own at 42.00, however it has so far failed to move beyond this level.<\/p>\n

Price strength is now at a reading of 41.20, with a support point at 40.00, in the event momentum begins to shift.<\/p>\n

A slight shift has already occurred, with LINK now trading at $6.58, which is marginally below earlier highs.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could chainlink move beyond $7.00 in May? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, sdx15 \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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