Biggest Movers: XMR and SOL Higher on Monday
Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session. Monero (XMR)
XMR was one of Monday’s biggest gainers, as prices rose by almost $20 from lows during Sunday’s session.
Following a low of $128.00 on Sunday, XMR/USD rallied to an intraday high of $174.62 to start the trading week.
Monday’s top came as prices surged for four consecutive sessions, hitting a near one-week high in the process. XMR/USD – Daily Chart
Since these highs earlier in the day, XMR is now trading marginally below a ceiling of $173.00, as bullish strength faded as the day progressed.
The 14-day RSI is now trading at a resistance level of its own, which is below 43.14, and should it break, we could see XMR break resistance for the first time since March.
Should this happen, prices could move closer to the $200 region. A point which monero last hit only eight days ago.
Solana (SOL)
Following three consecutive sessions of gains, SOL was also higher to start the week, however prices declined as the day progressed.
On Sunday, SOL/USD finished the day trading at $53, and went on to hit a peak of $58.88 during the early part of Monday’s session.
Since then, prices have slipped, and as of writing SOL is currently trading at a level of $52.32, which is close to a one-week low. SOL/USD – Daily Chart
Overall, SOL has dropped by over $100 since the beginning of April, with prices dropping below $35 last Thursday.
Looking at the chart, the 14-day Relative Strength Index is now tracking at 33.26, which is marginally below a ceiling of 36.
Bulls are likely going to attempt to push prices towards $70, if price strength moves past the current obstacle in the RSI. Tags in this story Analysis, Monero, SOL, Solana, xmr
Could we see runs higher in upcoming sessions? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 to Start the Week MARKET UPDATES | 10 hours ago Biggest Movers: LUNA Climbs 1,500% Following Do Kwon Tweets, While AVAX and NEAR Fall on Saturday MARKET UPDATES | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCircle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries Next articleCZ Says Binance Supports Proposal to Compensate LUNA Retail Users First 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. Bitcoin.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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade