Polkadot rose to a multi-week high to start the week, as prices rose for a second straight day. The signal was briefly withdrawn from a key defensive point, in the wake of Monday’s emergency. Chainlink also moved to its highest point in two weeks, with the token now trading 13% higher in the past seven days.
Polka Dots (DOT)
Polkadot (DOT) was higher for a second consecutive session as the token’s price neared a two-week high.
Following Sunday’s low of $7.21, DOT/USD rose to a high of $7.61 to start the week.
The move saw Polkadot briefly break away from its long-term resistance level of $7.60 before quickly retreating.
As can be seen from the chart, this defensive point has historically been a point of uncertainty, with bears recently dominating sentiment in this area.
DOT is now trading at $7.52 from previous highs as bulls opted to take profits shortly after hitting the aforementioned resistance.
Bulls continue to target a breakout, with the higher ceiling likely to be an exit at $8.10.
Chainlink (LINK)
Chainlink (LINK) was also higher on Monday, nearing its strongest level in the past two weeks.
LINK/USD rose to $7.25 to start the week, its highest point since August 25.
Like Polkadot, Monday’s action led to a breakout, with LINK breaking through the $7.20 ceiling.
The move came as another resistance level was breached, the 14-day Relative Strength Index (RSI).
As of writing, the index is tracking at 51.28, which is higher than the long-term ceiling of 50.00.
If this trend continues, we will see LINK bulls attempt to recapture the $7.50 level.
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Could we see Chainlink hit $8.00 in September? Let us know your thoughts in the comments.
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