Ethereum classic was trading close to its highest point since April, as the token rose by nearly 10% on Friday. Despite crypto markets being mostly in the red in today’s session, a handful of tokens managed to climb higher. Chainlink was another one of these tokens, as it hit a two-month high earlier in the day.
Ethereum Classic (ETC)
Etherum classic (ETC) was trading close to a four-month high in today’s session, as the token extended recent gains.
Following three consecutive days of gains, ETC/USD rallied to an intraday high $44.31 on Friday.
This comes less than 24 hours after the token was at a low below $38.00, and it’s now climbing towards a recent high of $45.40.
Looking at the chart, this peak at the $45.40 area is the most ETC has hit since April 7, which came days after prices fell below $50.00.
As of writing, ethereum classic has now marginally declined, and is currently trading at $42.04.
This comes as the relative strength index (RSI) of 14 days collided with a resistance level of 71, which is the highest point since July 31.
Should ETC bulls intend to recapture those multi-month highs, then this is an obstacle that must be overcome.
In addition to ETC, chainlink (LINK) was trading higher in today’s session, as prices climbed to their highest point since June.
After residing at a floor of $8.85 on Friday, LINK/USD surged to a high of $9.43 earlier in today’s session.
This peak saw LINK trade at its most since June 9.
As seen on the chart, the move came as price strength gained momentum, with the RSI breaking out of its ceiling at 71.
Currently the indicator is at a reading of 72.24, which is its highest point since September 2021.
This could be an issue for bulls in their attempts to reach $10.00, due to prices currently being overbought.
Register your email here to get weekly price analysis updates sent to your inbox:
Can chainlink hit $10.00 despite being overbought? Let us know your thoughts in the comments.