Top Performers: TON Approaches $1.90, XLM Maintains Proximity to Recent Peaks

Top Performers: TON Approaches $1.90, XLM Maintains Proximity to Recent Peaks

Toncoin (TON): Thursday’s Notable Gainer

Toncoin (TON) experienced a whole lot of surge, with its value 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 Probable 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.

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As of now, 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) likewise remained in the green, with its value 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.

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This movement is accompanied by the 10-day (red) moving average approaching a probable 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 main resistance level of 50.00, which has been held for almost a month.

Bulls may intend 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 positive trend momentum and probable 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 cryptocurrency enthusiasts as these tokens show promising indications of growth.

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Author – Contributor at | Website

Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.

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