Tron rallied during today’s session, as it headed towards a one-week high, following recent declines. This came as Thorchain’s RUNE continued to trade lower, with today’s drop pushing prices closer to their lowest point since January 2021.
Tron (TRX)
Tron (TRX) surged towards a seven-day week high during Thursday’s session, as prices rebounded following a recent decline.
After trading near the bottom at $0.06955, TRX/USD surged to $0.07444 shortly before midnight.
Today’s peak is the highest level prices have reached since last Saturday, and are slightly below May 13th’s high of $0.07650.
TRX is one of the most volatile tokens so far in May, with a high of $0.09267 and a low at $0.06304 on May 8.
The chart shows that the relative strength indicator (RSI), which was held at 52.50, has largely consolidated.
As of writing this, price strength is still below this point, and unless we see a breakout of this level, we might see prices drop in upcoming days, despite today’s near 7% rise.
Thorchain (RUNE).
Besides both beginning with the letter “T,” there were no similarities between tron and thorchain (RUNE) on Thursday as far as market activity is concerned.
The RUNE/USD ratio was mostly lower in the session. It fell to near its lowest level since January 2021.
The intraday price of the Dow Jones Industrial Average fell to $2.85 Thursday. This is $0.50 below its May 12th low of $2.35, an average of $1.55.
However, since hitting today’s bottom, prices rallied at the support level of $2.87, as they did the day after last week’s drop.
At the time of this writing, RUNE/USD trades at $3.15. Some bulls may attempt to push it towards $3.80 resistance.
To be successful with this upward push they will need to see a rise beyond the 35-day RSI ceiling.
Is it possible that RUNE could reach $4.00 at the end of the week? We’d love to hear your comments.
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