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Biggest Movers: NEAR Hits 6-Week High On Friday, NEO Extends Recent Gains

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Biggest Movers: NEAR Hits 6-Week High On Friday, NEO Extends Recent Gains

Near protocol was trading at its highest level since June 10 in today’s session, as prices of the token rose for a second straight day. Neo was also higher on Friday, with prices surging by over 15%, pushing the token to multi-week highs.

Near Protocol (NEAR)

Near protocol (NEAR) was one of the notable gainers on Friday, as prices of the token rose by as much as 10%.

Following a low of $4.17 on Thursday, NEAR/USD rallied to an intraday peak of $4.75 earlier in today’s session.

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Friday’s rise saw the token hit its highest point since June 10, pushing prices marginally above a key resistance level in the process.

NEAR/USD – Daily Chart

As seen on the chart, this ceiling was the $4.40 mark, which has held firm since early June, following significant drops in price towards the end of May.

Today’s climb in NEAR comes as the 14-day RSI (relative strength index) approached a resistance of its own.

The 64.70 level has acted as an obstacle to bulls since mid-April, however should this be overcome in upcoming days, bullish sentiment will likely gain momentum.

NEO

Another big mover in today’s session was neo, which gained for a second straight session, climbing by over 15% in the process.

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The token rose to an intraday high of $11.34 on Friday, following a low of $9.54 during yesterday’s session.

This is the highest price NEO has hit since June 13, when the token failed to break out of the $14 resistance point.

NEO/USD – Daily Chart

NEO now appears to be heading towards another ceiling, this time at the $12 mark, however bulls may not be able to break this resistance level either.

This is due to the fact that the relative strength index is currently hovering around 65, which is its highest point in over three months.

Like NEAR, in order for today’s gains to continue, price strength will need to overcome current hurdles, which will then entice more bulls to reenter the market.

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Do you expect neo to climb above $12 this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: 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 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.

Analysis

Biggest Movers: SHIB Remains Near 3-Month High, Whilst LEO Hits 2-Week High 

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Biggest Movers: SHIB Remains Near 3-Month High, Whilst LEO Hits 2-Week High 

Shiba inu remained close to a three-month high to start the week, after breaking out of a key resistance level over the weekend. The surge of the meme coin came despite the crypto market mostly being in the red on Monday. Another token that rose during today’s bearish session was unus sed leo, which hit a two-week high.

Shiba inu (SHIB)

Shiba inu (SHIB) was a notable gainer to start the week, as the meme coin remained near to a three-month high.

Following an intraday high of $0.00001790 on Sunday, SHIB/USD rallied to a peak of $0.00001774 earlier in today’s session.

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The initial surge came as SHIB broke out of a key price ceiling of $0.00001290, which had been holding firm since May 11.

SHIB/USD – Daily Chart

Looking at the chart, this came as the 14-day relative strength index (RSI) rose above its own resistance at 62.40.

After surging above this point, the index hit a high of 83.24, which is its strongest reading since October 2021.

Since this peak, the RSI has moved marginally lower, and as of writing is tracking at a point of 74.18.

Overall, it appears as if SHIB bulls have abandoned their previous positions, as a result of prices becoming overbought.

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Unus Sed Leo (LEO)

In addition to SHIB, unus sed leo (LEO) was another big mover in today’s session, with it climbing to its highest point in two weeks.

LEO/USD raced to an intraday high of $5.35 to start this week’s session, as bulls attempted to break a resistance level of $5.40.

Today’s peak comes as the token rose for a fifth consecutive session, and in turn hit its highest point since July 29.

LEO/USD – Daily Chart

Similar to shiba inu earlier, the RSI indicator on LEO also climbed, moving past its own ceiling of 48.90.

As of writing, the index is now tracking at a peak of 58.72, which is its highest level since July 7.

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Should bulls attempt to break the $5.40 point, then price strength will need to continue to climb, and move beyond the 60 mark.

Register your email here to get weekly price analysis updates sent to your inbox:

Will today’s bearish session extend into the remainder of the week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com

Disclaimer: 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 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.

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Analysis

Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000

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Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000

Bitcoin was trading lower to start the week, after the token briefly rose above $25,000 during Sunday’s session. As of writing, the global cryptocurrency market cap is currently trading 2.85% lower. Ethereum also dropped lower on Monday, with prices moving away from a recent high above $2,000.

Bitcoin

After a brief stint above $25,000 over the weekend, bitcoin (BTC) was trading in the red to start the new week.

On Sunday, BTC/USD hit an intraday high of $25,135.59, however the world’s largest token slipped to a bottom of $23,960.03 today.

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Sunday’s high was the most bitcoin has traded at since June 14, when prices of the token were over $26,700.

BTC/USD – Daily Chart

Looking at the chart, today’s decline in price comes after a resistance level of $24,800 was hit over the weekend, with bulls unable to sustain the uptrend required to push prices higher.

In addition to this, the 14-day relative strength index (RSI) is tracking at 56.44, which comes after failing to break out of a ceiling of 61.80.

This continues to be the main obstacle in the way of BTC rising back above $25,000 for a longer period of time.

Ethereum

In addition to BTC falling below $25,000, ethereum (ETH) also slipped to start the week, as the token dropped below $2,000.

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Over the weekend, prices of the world’s second-largest token by market capitalization moved above $2,000 for the first time since May.

However, on Monday, ETH/USD dropped to a low of $1,887.82, which was less than a day after trading at a high of $2,007.21.

ETH/USD – Daily Chart

This bearish turn in ethereum also comes as a result of the RSI being overbought, as it climbed above 71, which was its highest point since April 4.

As of writing, the index is tracking at 62, which comes as bearish sentiment swept through markets to start the week.

Prices will now be tested, with the index now close to a floor of 61, and should momentum move below this point, then we could see further declines.

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Can ethereum climb back above $2,000 this week? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: 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 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.

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ada price prediction

Cardano [ADA]: A breach and something more in the works perhaps?

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Cardano [ADA]: A breach and something more in the works perhaps?

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Over the past six weeks, the ascending channel (white) setup has accelerated Cardano [ADA]’s efforts to break the $0.55-resistance. Also, the consistent sway above the basis line (green) of the Bollinger bands (BB) reflected a near-term buying advantage.

With the breach of the $0.55-level, buyers could strive for more before giving in to the reversal tendencies of the pattern. At press time, ADA was trading at $0.5763, up by approx. 2.85% in the last 24 hours.

ADA Daily Chart

Source: TradingView, ADA/USDT

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The previous pattern’s breakout made way for a swift up-channel recovery on the daily chart. The price action now broke the squeeze phase while the basis line of the BB kept looking north. The alt would likely witness a high volatility phase in the coming days.

A compelling close above the midline (yellow, dashed) of the up-channel could aid the alt in retesting the upper trendline of the pattern. In this case, potential targets would rest in the $0.63-$0.65 range. Any close above this level would push the alt into price discovery.

Also, the latest price jump saw a corresponding hike in trading volumes by over 36% in the last 24 hours. A likely selling resurgence from the immediate resistance range could pose near-term recovery barriers. An eventual close below the pattern would give a selling signal.

Rationale

Source: TradingView, ADA/USDT

The Relative Strength Index (RSI) took a visibly bullish position while breaching the 59-mark resistance (now support). This trajectory could play out in favor of the buyers until a plausible reversal from the overbought region.

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Also, the OBV corroborated with the broader bullish narrative by replicating the price action’s higher peaks and troughs. The DMI further reiterated the previous readings, but the ADX displayed a slightly weak directional trend.

Conclusion

With buyers finding a break above the $0.55-level, ADA buyers could aim to extend its uptrend in the current up-channel. The targets would remain the same as above.

Finally, traders/investors should keep a close watch on Bitcoin’s movement and its effects on the wider market to make a profitable move.

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With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.

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