15 September 2022
UNUS SED LEO rose to a one-week high on Thursday, as prices rebounded following a three-day losing streak. Another token which rebounded in today’s session was cosmos, which climbed higher following five straight days of declines. Overall, crypto markets are down 1.09% as of writing.
UNUS SED LEO (LEO) rebounded on Thursday, following three straight days of lower lows.
Following a bottom of $4.73 on Wednesday, LEO/USD rallied to an intraday peak of $5.23 in today’s session.
However, Thursday’s rally came as LEO bulls pushed prices higher, following the earlier breakout of a $4.80 support point.
Today’s peak is the strongest point the token has hit in the last week, and comes as a ceiling was broken within the relative strength index (RSI).
As of writing, the 14-day RSI is tracking at 50.22, following a move past its resistance point of 48.11.
Should this momentum continue throughout the week, bulls will likely look at exiting around a price point of $5.40 which has historically acted as a ceiling.
After five straight days of declines, cosmos (ATOM) rose higher on Thursday, as the token also rebounded.
ATOM/USD hit a peak of $14.75 in today’s session, as bulls rejected a breakout of a key support point.
Bearish sentiment had threatened ATOM, with prices at $13.30 on Wednesday, however traders saw this as an opportunity to buy the dip.
It was only last Friday, September 9, that cosmos was trading at a four-month high of $17.20, and it appears that some still believe further highs are ahead.
Currently price strength remains in-between overbought and oversold, tracking at a point of 59.00.
A ceiling is at 61.00, and should this point be broken, then we will likely see more bulls reenter the market.
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Will cosmos continue to climb back towards recent highs this week? Let us know your thoughts in the comments.
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