Monero rebounded from recent losses on Tuesday as the token attempted to recapture recent highs. This move was due to the reopening of U.S. markets following Monday’s holiday. Polkadot also moved higher in today’s session, snapping a two-day losing streak.
Monero (XMR
Monero (XMR) rebounded on Tuesday, with the token heading back toward its recent 7-month high.
After a low of $165.77,. XMR/USD surged to an intraday peak of $173.28 earlier in the session today.
In today’s action, Monero bounced from support at $165.00 and rose toward resistance at $175.00.
As of this writing, the token has fallen below this upper limit and is currently trading at $172.65.
If this hurdle is overcome,the XMRbulls will likely try to recapture last week’s peak of $187.20.
For that to happen, the Relative Strength Index (RSI), currently hovering at 68.71, would need to move back toward the 80.00 mark.
Polkadot (DOT)
Polkadot (DOT) snapped a two-day losing streak on Tuesday, with prices approaching two-month highs.
DOT/USD hit a high of $6.07 earlier in today’s session, less than 24 hours after trading as low as $5.66.
As a result of Tuesday’s surge, the DOT moved to a ceiling at $6.10, approaching Saturday’s high of $6.51.
The chart shows a rebound as the 14-day RSI is also bouncing off its own support point at 72.45.
The index is currently tracking at 74.88 and the 82.00 mark could be the target for buyers.
The DOT is trading at $5.97.
Sign up for email here to have weekly price analysis updates sent to your inbox.
Image credits: Shutterstock, Pixabay, Wiki Commons