NEXO surged by close to 50% in Friday’s trading, due to markets reacting to Binance listing the token on the platform. Today’s surge sent NEXO to a multi-week high, while TRON also moved higher, hitting a one week peak.
NEXO
Two weeks after announcing a partnership with Mastercard to launch the world’s first “crypto-backed” payment card, NEXO today achieved another milestone.
Binance announced that the token will be added to its platform and it was received well by markets.
NEXO/USD rose by nearly 50% during today’s session, hitting an intraday high of $3.66 in the process.
Friday’s surge comes less than 24-hours after prices were trading at $2.14, and as of writing are tracking at a record high.
The recent peak follows a rally that began at $2.10 support. Two long-term resistance levels were broken by the bullish rise.
The price for NEXO which was launched last December is currently overbought. The RSI tracking is at 71.94 which is a new record. As a result, many will expect a reverse in the upcoming sessions.
TRON
TRON was also higher during today’s session, rising to a one week high, following three consecutive days of rallies.
The TRX/USD reached its peak Friday at $0.06967, the highest since April 22, as of the writing of this article.
TRX broke through its $0.06800 long-term resistance, and some are now aiming for a $0.07600 ceiling.
You can see that there has been an upwards crossover between the 10-day moving average and 25-day moving medians. This usually signals a bullish tendency.
For this trend to be sustained, we’ll need to see a break of the ceiling at the 14-day RSI.
The resistance level is currently at 54.05. However, if this obstacle can be overcome, then we may see an influx TRX bulls.
Are bears setting up a trap to capture bulls who are expecting a break? Please share your views with us in the comments.
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