Toncoin (TON): Thursday’s Notable Gainer
Toncoin (TON) experienced a significant surge, with its price increasing by 4% in today’s session.
After reaching a low of $1.75 on Wednesday, TON/USD climbed to a peak of $1.88 earlier today.
This rise comes after the token hit its highest point since May, reaching $2.05.
Chart Analysis: RSI Indicates Potential Price Increase
Upon analyzing the chart, we observe that the price rise coincides with a jump in the relative strength index (RSI) at a floor of 60.00.
Currently, the RSI stands at 63.35, with the next resistance level being around 66.00.
If the price surpasses this level, there is a high probability that it will move towards $2.00.
Stellar (XLM): Nearing Resistance Level
Stellar (XLM) also remained in the green, with its price hovering near the resistance level of $0.1300.
Earlier today, XLM/USD reached a peak of $0.1243, following a low of $0.1178 the previous day.
This movement is accompanied by the 10-day (red) moving average approaching a potential crossover with the 25-day (blue) moving average.
RSI Breakout and Bullish Potential
Furthermore, the RSI is on the verge of breaking out of the key resistance level of 50.00, which has been held for almost a month.
Bulls may aim to surpass this level in the coming days, potentially driving the price towards a ceiling of $0.1400.
Hot Take
The recent gains of Toncoin (TON) and Stellar (XLM) indicate bullish momentum and potential price increases. Traders and investors should closely monitor the RSI and resistance levels for further insights into the market trends. It is an exciting time for crypto enthusiasts as these tokens show promising signs of growth.
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