Cosmos hit its highest point since May today as crypto markets jumped on Thursday. The global market cap is trading over 6.27%, with bullish sentiment spreading. Solana was trading over 10% today.
Cosmos traded higher on Thursday, with the token hitting its highest level since May. After a low of $11.72 in today’s session, U.S. 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.
Looking at the chart, this latest price surge follows a rebound from a support point at $11.15, which occurred during Wednesday’s session. This price surge pushed the 14-day relative strength index (RSI) toward a resistance level of 63, which has been in place since July 21.
If the index is to extend its recent run of results, it will need to break through that ceiling, but Cosmos finally seems to be heading higher.
Solana (SOL) stock has been trading higher, with prices climbing over 10% in 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.
Since hitting this point earlier in the day, the price of SOL has slipped a bit and is now at $44.10. The bulls seem to have given up their earlier positions, in exchange for securing profits, which has resulted in a little uncertainty in the price movement.
This uncertainty has been reinforced by the fact that the RSI is also near its own ceiling of 59. If we want to see the Solana continue to move higher, we will need to break this point of resistance.