The token rose by 12% on Tuesday as flow increased for the second consecutive session. After prices dropped to a one month low last weekend, the rebound is evident. Cosmos also saw a rebound after it reached a five-day peak. Global crypto market cap has risen 0.68% to the time of writing.
Flow (FLOW).
The token rose as high as 12% today thanks to Flow (FLOW).
FLOW dropped to its lowest point in over a month on Sunday as bearish pressure flooded cryptocurrency markets.
Prices have since rebounded from yesterday's low at $1.77 and reached a peak of $2.08 earlier today.
Today's surge saw FLOW/USD nearly collide with $2.10 as a key resistance level, which created some uncertainty in price movements.
FLOW traded at $1.94 after its previous peak. This is because bulls have liquidated their positions and sent prices lower.
This could also be due to the 14 day relative strength index (RSI), hitting a resistance level at the 40.00 mark.
Cosmos (ATOM)
Cosmos (ATOM) is another major mover today, which rose for the second consecutive day.
After a low of $10.16 Tuesday, ATOM/USD rose to an intraday high today of $11.86.
Today's move will see ATOM fall to its lowest point for five days since it traded above $13.00.
The chart shows that although the token rose above its resistance level at $11.50, the gains made earlier in the day were diminished as traders sought to make profits.
Cosmos currently trades at $11.25, below the price ceiling as of this writing.
If traders want to extend the run over the past two days the RSI must move past an upcoming obstacle at 52.00.
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By: Eliman Dambell
Title: Biggest Movers: FLOW up 12% on Tuesday, Hitting 5-Day High
Sourced From: news.bitcoin.com/biggest-movers-flow-up-12-on-tuesday-hitting-5-day-high/
Published Date: Tue, 30 Aug 2022 15:30:39 +0000
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