XMR rises to 1 month high, as ALGO also climbs on Saturday – Market updates Bitcoin News
XMR was a remarkable driver in the crypto markets to start the weekend, as prices rose to the highest level in over four weeks. Despite the fact that a large part of the market consolidated on Saturday, ALGO was also higher, as it also reached a multi-week high during the weekend.
Monero (XMR)
Monero was a remarkable driver on Saturday, when the token rose to its highest point in over four weeks in today’s session.
After a low of $ 133.16 on Friday, the XMR / USD plunged to an intraday high of $ 141.17 to start the weekend.
This move caused the token race to reach its highest point since June 13, and this came when prices broke beyond a key resistance level of $ 136.
Since this eruption, the volatility of the XMR has increased, with some bears trying to stop the current series of upward momentum.
At the time of writing, prices have fallen slightly from previous highs, with monero now trading around the $ 138 region.
Should previous bullish sentiment continue to fall, we may soon see the XMR trade below the long-term ceiling of $ 136.
Algorand (ALGO)
ALGO was another relatively strong gain on Saturday, as it also rose to a several-week high to start the weekend.
The token reached an intraday high of $ 0.3425 earlier today, which is the most it has traded since June 26.
As a result of today’s increase, ALGO / USD is now on the verge of colliding with its long-term price cap of $ 0.3500.
Looking at the chart, relative strength has risen considerably in recent weeks, with the index now at 54.19.
This is the highest reading for the RSI since April 4, when prices traded at twice their current value.
Bulls seem to be aiming to move past the upcoming price cap, but it is likely that bears will look to send prices lower at that level.
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Will bullish momentum overcome bearish sentiment at the coming resistance level? Let us know your thoughts in the comments.
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