Technical Analysis: Bitcoin Hits $40,000, as LEO Leads Friday Rally – Market Updates Bitcoin News

Bitcoin (BTC). reached $40,000 and ethereum was close to $3,000 with Solana at $110. However, none of these were the big mover today.

UNUS SED LEO was awarded the honor. The stock rose by nearly 55% in the past 7 days and by 30% on Friday.

LEO/USD rose to an intraday peak of $5.48 after yesterday’s low of $4.02

Today’s news is that LEO has broken through its resistance level at PS$3.88 earlier in the week before succumbing to Thursday’s red tide.

This was because the moving averages of 10-days and 25-days (red) saw an upward crossover for first time since December 29.

Added to this, the RSI now tracks as 81. This is deep in overbought territory which could be a giveaway to profit-takers over the weekend.

Biggest losers

Relatively speaking there weren’t many bears Friday with only 2 out of the top 99 cryptocurrency cryptocurrencies slightly falling.

Scrolling down to the #100 cryptocurrency listed, you’ll see that markets weren’t so friendly to yesterdays biggest gainer immutable X.

IMX fell by more than 22% today after a 35% increase on Thursday. This was likely because traders chose to profit rather than keep their positions.

Earlier today, IMX/USD fell back to support at $3.01 after trading at a higher than $5.40 24 hours ago.

The RSI for 14-days fell below 50 and is now at 45.98. It appears that the market is moving deeper into oversold territory.