Despite the global cryptocurrency market cap mainly consolidating on Tuesday, LUNA and CELO were some of the session’s biggest gainers. ZIL, on the other hand, continued to fall following recent highs, trading over 15% lower during today’s session.
CELO
ZIL fell for a fourth straight session on Tuesday, as prices continue to slip away from last week’s high of $0.2313.
ZIL lost almost 13% this morning, but CELO gained nearly the same percentage. CELO climbed almost to its top in four months.
Following a low of $3.68 to start the week, CELO/USD rallied to a high of $5.19 in Tuesday’s market session.
It is the highest CELO traded level since January 13th, as prices fell from $6.00 to a low of $5.00.
Looking at the chart, today’s gains somewhat eased as prices neared the resistance level of $5.20, a level which has historically birthed a high level of uncertainty.
CELO’s current level of overbought is reported by the 14-day RSI at 76.31.
This could provide bears with an additional incentive to get into the market at the current level. It is similar to the mid-January sale.
Terra (LUNA)
LUNA rallied to a new record high during today’s session, as it moved past ADA to cement itself as the world’s seventh-largest cryptocurrency.
After a Monday low of $109.94, LUNA/USD surged on Tuesday to an intraday peak of $119.18, its highest ever recorded price.
Tuesday’s record high comes less than a week removed from prices trading below $100, but surging after a key resistance point was broken.
This resistance level is the $102.50 resistance. It had previously been hit twice by failed breakouts, one on December 27 and another on March 10.
The chart clearly shows the charm of third times, but these gains have slowed as we hit the ceiling for the 14-day RSI.
The 69.9 resistance on the indicator hasn’t been broken in nearly a month, and this fact could entice bears to push prices away from the all-time high.
Will LUNA rise to $200 within the next few weeks? Please share your views with us in the comments.
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