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...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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.
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.
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.
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.
Could we see runs higher in upcoming sessions? Let us know your thoughts in the comments.
Why this matters
This altcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Bitcoin’s weekend rebound faces an $80,400 test after nearly $730 million in ETF outflows
Bitcoin traded near $82,900 in PerpFinder’s Oct. 10, 09:36 UTC snapshot, with traders watching whether the weekend rebound brings...
Ethereum ETFs see largest weekly net outflow since January
The significant outflows from Ethereum ETFs may signal waning investor confidence and broader bearish sentiment in the crypto mark...
What Is Crypto Spot Trading?
For example, a token can be up 70% and still be a terrible trade if you have no idea when to take profits. Likewise, a 30% dip can...
Bitcoin companies are learning that holding forever takes cash
Metaplanet sold 10,000 BTC and bought back 11,000 at a higher average price to show it was willing to sell its Bitcoin. The Japane...
Being right about Bitcoin won’t save your 3x leveraged ETF position
Bitcoin's next recovery could vindicate your investment thesis but leave your leveraged fund deep in the red, because the fund's d...
Bitcoin ETFs Shed $729M in Two Days as Investors Reverse Course
Bitcoin Magazine Bitcoin ETFs Shed $729M in Two Days as Investors Reverse Course U.S. investors this week reversed course, cashing...