Solana rose for the second straight day on Thursday, bringing the token closer to its long-term resistance point at $35.00. Monero also turned green in today’s session, extending its recent gains in the process. Overall, the market is attempting to rebound after the red wave that swept the market earlier in the week.
Solana (SOL)
Solana (SOL) nearly rallied in Thursday’s session as the token moved toward a key resistance level.
Following a low of $32.79 on Wednesday, SOL/USD rose to an intraday high of $33.92 later in the day.
The move was close to the $35.00 ceiling that the soluna has held nearly steady for the past two weeks.
As the chart shows, today’s rise brought the 10-day moving average (red) close to crossing over the 25-day moving average (blue).
However, prices may continue to move lower until the 14-day Relative Strength Index (RSI) breaks out of its upcoming ceiling.
The index, currently hovering at 49.22, is approaching the 51.00 resistance mark, which could be a major hurdle to further upside in the SOL.
Monero (XMR)
Another notable one in today’s session is Monero (XMR), which also rose for the second day in a row.
Despite the current market volatility,XMR50} /USD was able to rise on Thursday, recording 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, a two-week high.
This point is close to the $153.00 resistance and appears to have chosen to take profits rather than push a breakout.
The Monero bulls may now be looking to not only recapture, but to rise above this ceiling in the coming days.
But like Solana,the XMR will need to exceed the 51.55 ceiling on the RSI if it is to extend today’s rally.
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