XMRwas a notable weekend move in the crypto market as prices rose to their highest levels in over four weeks. Despite most of the market consolidating on Saturday, ALGO was also higher as it hit a multi-week high over the weekend.
Monero showed remarkable movement on Saturday, with tokens rising to their highest level in over four weeks during today’s session.
After hitting a low of $133.16 on Friday, it soared to an intraday peak of $141.17 in theXMR/ weekend.
The move means the token race has hit its highest point since June 13, with prices breaking through a key resistance level of $136.
Since this breakout, volatility in thehas increased; volatility in the XMRhas increased and the current rise Some bears are trying to stop the momentum chain.
At the time of this writing, prices have fallen slightly from their previous highs, with Monero currently trading around $138.
If previous bullish sentiment continues to decline, we may soon seeXMR trading below its long-term ceiling of $136
ALGO had another relatively strong rally on Saturday, rising to multi-week highs here and into the weekend.
The token hit an intraday peak of $0.3425 earlier today, which is its highest price traded since June 26.
As a result of today’s surge, ALGO/USD is now in danger of colliding with its long-term price ceiling of $0.3500.
The chart shows that relative strength has risen considerably in recent weeks and is currently at 54.19.
This is the highest RSI since April 4, when it was trading at twice its current price.
The bulls seem to be aiming to exceed the price ceiling in the future, while the bears may be aiming to bring the price down at that level.
Sign up for email here to receive weekly price analysis updates.
Image credits: Shutterstock, Pixabay, Wiki Commons, Vladimka production