Biggest Movers: FLOW Moves to Highest Point Since May, DOT Fast Approaching $10 Level
Flow was in the green to start the week, as the token climbed to its highest point since May. The surge has seen prices rise by as much as 15% on Monday, as recent gains were extended. Polkadot was also higher, as it too...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Flow was in the green to start the week, as the token climbed to its highest point since May. The surge has seen prices rise by as much as 15% on Monday, as recent gains were extended. Polkadot was also higher, as it too cemented multi-month highs.
FLOW
FLOW was one of Monday’s most notable movers, with prices of the token increasing by as much as 15% in today’s session.
After trading at a low of $2.59 on Sunday, FLOW/USD rallied to an intraday high of $3.13 to start the week.
This move saw FLOW rise to its highest point since May 11, when prices were trading above $4.00.
Looking at the chart, today’s peak comes as the token broke out of its long-term resistance at $3.00.
The surge comes as price strength continues to climb, and as of writing, is tracking in overbought territory.
Currently, the relative strength index (RSI) is at a reading of 75.28, which is close to its highest point since April.
This could be a positive for bears anticipating imminent price declines.
Whilst FLOW moved to a three-month high, polkadot (DOT) moved to its highest level in close to two months.
DOT/USD raced to an intraday peak of $9.36 to start the week, less than 24 hours after residing at a low of $8.54.
As a result of Monday’s surge, DOT moved briefly above its price ceiling of $9.30, which is one of the last lines of defense to a move above $10.00.
Since hitting earlier highs, gains in polkadot have somewhat eased, as bulls likely moved to secure profits.
This drop in momentum coincides with the 14-day RSI hitting a resistance level of its own near the 67 mark.
Should DOT want to extend its move towards the $10.00 mark, then relative strength will need to overcome this obstacle.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect polkadot to surge to $10 this week, despite being overbought? Let us know your thoughts in the comments.
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
OCC Proposes Weekly and Quarterly Reporting Forms for Stablecoin Issuers
TL;DR: The OCC has published revised reporting forms intended to let supervisors monitor the financial condition and activity of p...
Bitcoin Price Today: BTC Outperforms S&P 500 Above $80K as Fed Interest Rate Decision Looms
Bitcoin was hovering near $81,412 in the latest TradingView readings provided for October 28, keeping the $80,000 level in focus a...
BlackRock and SBI Explore Yen Stablecoin Link for Tokenised Funds
TL;DR: SBI Holdings and Startale announced on October 27 that they signed a memorandum of understanding with BlackRock Financial M...
Cardano Price Prediction: Whale Activity Jumps as $0.20 Support Sets Up a Potential Move Toward $0.26
Cardano price is trading close to an important support area after another volatile stretch, with price action now beginning to att...
Arc Surges $1 Billion in USDC Circulating Supply
Key Takeaways: Circle’s Arc blockchain has amassed over $1 billion worth of USDC about 6 weeks after its launch. Arc’s stablecoin...
Zcash (ZEC) Price Prediction: Whale Goes Long Before FOMC Announcement as H&S Pattern Puts $1,350 in Focus
Traders are watching whether Zcash price can break above $1,350, potentially confirming a bullish chart pattern and opening the wa...