Flow was in the green to start the week, as the token climbed to its highest point since May. The surge has seen prices rise by as much as 15% on Monday, as recent gains were extended. Polkadot was also higher, as it too cemented multi-month highs.
FLOW was one of Monday’s most notable movers, with prices of the token increasing by as much as 15% in today’s session.
After trading at a low of $2.59 on Sunday, FLOW/USD rallied to an intraday high of $3.13 to start the week.
This move saw FLOW rise to its highest point since May 11, when prices were trading above $4.00.
FLOW/USD – Daily Chart
Looking at the chart, today’s peak comes as the token broke out of its long-term resistance at $3.00.
The surge comes as price strength continues to climb, and as of writing, is tracking in overbought territory.
Currently, the relative strength index (RSI) is at a reading of 75.28, which is close to its highest point since April.
This could be a positive for bears anticipating imminent price declines.
Whilst FLOW moved to a three-month high, polkadot (DOT) moved to its highest level in close to two months.
DOT/USD raced to an intraday peak of $9.36 to start the week, less than 24 hours after residing at a low of $8.54.
As a result of Monday’s surge, DOT moved briefly above its price ceiling of $9.30, which is one of the last lines of defense to a move above $10.00.
DOT/USD – Daily Chart
Since hitting earlier highs, gains in polkadot have somewhat eased, as bulls likely moved to secure profits.
This drop in momentum coincides with the 14-day RSI hitting a resistance level of its own near the 67 mark.
Should DOT want to extend its move towards the $10.00 mark, then relative strength will need to overcome this obstacle.
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Do you expect polkadot to surge to $10 this week, despite being overbought? Let us know your thoughts in the comments.