IOTX was Friday’s big gainer, as crypto markets were lower across the board to end the week. Overall, the global cryptocurrency market cap is down close to 4% in today’s session.
Following a strong start to the week, which saw the likes of shiba inu (SHIB), and leo token (LEO) both rally by over 50%, cryptocurrency prices fell as we headed into the weekend.
Although the majority of the top 100 markets were in the red, there were a few notable exceptions to this.
IOTX/USD, which was trading at a low of $0.1029 on Thursday, climbed to an intraday high of $0.1205 earlier today.
Today’s move came after two consecutive sessions of declines, which took prices to support of $0.1234, where bulls seemed to have bought the dip.
As a result of the rally from support, the 10-day (red) 25-day (blue) moving averages extended their recent upward cross, which was the first time such a crossover happened since early November.
Price strength also fell from its highest point since November this week, and now tracks at 57.7, after maintaining the floor of 54. .
IOTX bulls will likely remain hopeful that prices will move past its recent resistance of $0.1747 in upcoming sessions.
There were many bears in today’s session, however the standout was Kadena, which is down around 10% as of writing.
KDA fell to an intraday low of $8.22 on Friday, after trading at a high of $9.25 less than 24-hours ago.
Friday’s sell off sees KDA/USD fall for a second consecutive session, after failing to break out of its resistance at $10.43.
Today’s move has pushed prices to an interim floor of $7.98, which many see as a stop-gap as it heads to its real support of $5.13.
Despite the current bearish sentiment surrounding KDA, moving averages, in particular the 10-day (red) look as if it may still be pushing upward.
Could we see this bullish momentum return during the weekend? Let us know your thoughts in the comments.