Chainlink reached a six week high Tuesday, when the token increased for a sixth consecutive session. This move saw the token rise past a key resistance level. Uniswap also saw prices rise by up to 16% earlier in today’s trading session.
Chainlink (LINK)
Chainlink (LINK), which rose on Tuesday for the sixth consecutive day, took the token to its highest point since mid August.
After trading at a $6.55 floor on Wednesday, LINK/USD rallied in back to back sessions with prices reaching an all-time high of $8.36 today.
Tuesday’s high mark is the highest that chainlink has reached since August 17, when it failed to break through from $9.50.
The chart shows that today’s price rise was the result of a successful move above the $8.05. ceiling.
This was not all. The 14-day relative strength indicator (RSI), which had been holding steady for the past week, also showed a breakout.
The index currently stands at 61.03 as of writing. This is the highest level since August 14.
Uniswap (UNI)
Uniswap was another notable gainer Tuesday, rising by as high as 16% during today’s session.
The UNI/USD rose to $6.68 Tuesday, a price that saw prices rise to their highest point since September 13.
Today’s move has resulted in uniswap trading close to \$6.70. This ceiling was historically a point of contention.
The gains made in the past have been somewhat diluted as the day progresses. As of writing, the token trades at $6.61.
This is due to the RSI approaching a hurdle at 58.00. Some traders have liquidated earlier positions.
The RSI must move beyond the 58.00 mark in order to allow UNI to rise above $7.00 over the next few days.
