Biggest Movers: SOL Moves Towards $35.00, XMR Extends Recent Gains
Solana rose for a second straight day on Thursday, as the token moved closer to its long-term resistance point of $35.00. Monero was also in the green during today’s session, extending recent gains in the process. Overall, markets attempted to rebound, following a red wave which swept through markets to start the week.
Solana (SOL) was mostly higher during Thursday’s session, as the token moved towards a key resistance level.
Following a low of $32.79 on Wednesday, SOL/USD rose to an intraday high of $33.92 earlier in the day.
The move saw solana move closer to its ceiling of $35.00, which has mostly held firm for the past fortnight.
As can be seen from the chart, today’s climb led to the 10-day (red) moving average nearing a crossover with its 25-day (blue) counterpart.
Despite the prospect of this occurring, prices may remain lower up until the 14-day relative strength index (RSI) breakout out of an upcoming ceiling of its own.
The index, which is currently tracking at 49.22 is nearing a resistance mark of 51.00, which will likely be a major hurdle in preventing SOL from further gains.
Another notable mover in today’s session was monero (XMR), which also moved higher for a second consecutive day.
Despite current market volatility, XMR/USD was able to rise on Thursday, hitting a peak of $148.98 in the process.
As a result of today’s surge, the token remains close to Monday’s top of $152.84, which was a two-week high.
This point was also close to a resistance of $153.00, and it appears as if bulls opted to secure gains as opposed to pushing for a breakout.
Chances are, monero bulls are now aiming to not only recapture, but rally beyond this ceiling in the coming days.
However, like solana, XMR will need to move beyond a ceiling of 51.55 on its RSI, if it is to extend today’s run.
Register your email here to get weekly price analysis updates sent to your inbox:
Could monero hit a fresh multi-week high in the coming days? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. krakow3d.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.