Tron (TRX) and Stellar (XLM) both experienced significant gains over the weekend. Here are the key points:
Tron (TRX):
– TRX/USD surged to a 20-month high after hitting a low of $0.08035 on Friday.
– The token reached an intraday peak of $0.09317, the highest point since December 2021.
– This breakout followed the surpassing of a ceiling at $0.08600.
– The relative strength index (RSI) also moved past its own ceiling at 70.00, currently tracking at 71.35.
– However, TRX has since retreated below the resistance level of $0.08600 as traders capture profits.
Stellar (XLM):
– XLM/USD rebounded from Friday’s losses and rose to a high of $0.1674.
– This rally broke through a resistance level of $0.1620, approaching a 15-month high of $0.1959.
– The RSI surpassed the 70.00 mark, indicating overbought conditions.
– This could lead to bears reentering the market in anticipation of a sell-off.
In conclusion, Tron and Stellar saw significant gains over the weekend, but traders capturing profits and overbought conditions may lead to a pullback in the near future.
< h2 >Hot Take:
The crypto market saw bullish movements over the weekend, with Tron and Stellar leading the way. However, caution is advised as profit-taking and overbought conditions could trigger a market correction. Keep a close eye on these tokens and monitor their price movements for potential trading opportunities.
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