Tron (TRX) Sees Surge in Daily Transactions, Hits Multi-Week High
Tron (TRX) reached a multi-week high on Thursday as reports emerged of nearly 5 million daily transactions on its blockchain. The TRX/USD pair peaked at $0.08322, marking the highest point since July 30. This surge followed a low of $0.08043 the previous day.
Bulls are currently attempting to break the resistance at $0.08600, but they are facing a hurdle on the relative strength index (RSI). The RSI is currently at 67.89, just below the ceiling at 68.00. To reach their price target, bulls will need to overcome this resistance point.
Solana (SOL) Nears $20 Mark with Third Consecutive Day of Gains
Solana (SOL) continued its upward trend on Thursday, moving closer to the $20 mark. SOL/USD surged by 5%, reaching an intraday peak of $19.27 after hitting a bottom of $17.96 the day before.
The RSI has approached a ceiling of 43.00, causing the price gains to slow down in the last few hours. Currently, the RSI is at 41.05, and SOL is trading at $18.84.
Achieving the short-term target of $20 will require significant bullish momentum.
Hot Take: Tron and Solana Show Strength in Recent Gains
Both Tron (TRX) and Solana (SOL) have demonstrated strength in their recent price gains. Tron’s surge to a multi-week high indicates increasing activity on its blockchain with nearly 5 million daily transactions. Meanwhile, Solana’s third consecutive day of gains brings it closer to the coveted $20 mark. However, both cryptocurrencies face resistance levels that need to be overcome for further upward movement. Traders and investors should closely monitor these resistance points and the RSI levels to assess the potential for continued bullish momentum. Overall, these recent developments highlight the ongoing positive momentum in the crypto market.
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