Biggest Movers: SOL Moves Past LUNA, as EOS and FIL Lead Monday’s Gainers
Solana reclaimed the eighth position in the crypto top ten, as ADA and DOT were both over 10% higher to start the week. Despite this, it was EOS and FIL which led today’s gainer, with FIL gaining over 30% in the session.
FIL rallied by as much as 30% to start the week, as cryptocurrencies rose across the board during Monday’s session.
The global crypto market cap was 6.5% higher on Monday, led by gains in FIL, which rose to an intraday high of $25.62.
Today’s peak follows yesterday’s lows which saw FIL trading below the $20 level, following recent rallies from support of $17.50.
From this support, FIL/USD continued to move beyond the resistance level of $23.30, with today’s high hitting its highest point since February 8.
Looking at the chart, prices are currently overbought, as the 14-day RSI indicator is tracking at 75.10.
This is the highest reading since September 6, and as such bears may be looking for an opportune time to push prices lower.
Following a low of $2.56 to begin the session, EOS/USD climbed to a peak of $3.17, breaking out of its long-term resistance in the process.
Monday’s move saw the world’s 49th largest cryptocurrency surge past its ceiling of $2.77, on its way to its highest point since January 5.
Today’s three-month high came as readings on the RSI indicator were off the charts, as price strength also rose to multi-month highs.
As of writing this, the 14-day Relative Strength Index has a reading of 77.91, which is its most since August 15.
Similar to FIL, EOS bulls now have a conundrum, close positions and accept current gains, or go through the market uncertainty that is coming due to prices being overbought.
Is there more upside momentum in EOS despite current highs? Let us know your thoughts in the comments.
Eliman brings a diversified 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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