Following a bearish start to the day, XMR climbed to a two-week high during today’s trading session. LRC saw its price rise for the fifth day straight, gaining monero as well as a gain in monero. It is now approaching a multiweek high.
Monero (XMR)
Monero extended a recent bullish streak during today’s session, with prices rising to a two-week high as a result of strong gains.
XMR/USD hit an intraday peak of $204.69 earlier in the day, which is over $10 higher than yesterday’s low.
Today’s rally comes as prices have now risen for six out of seven sessions, with today’s the highest XMR has hit since May 9.
The price of gold fell to $112.98 in May, a low that was only 15-months ago. But, since then we’ve seen substantial rebounds.
This price rebound is represented by the ascending triangle, which can be seen on the chart. Prices now appear to have hit resistance.
The resistance at $205 is holding firm. However, the RSI has reached its ceiling at 55.
Bulls may target $230 if we witness a break from the ceiling at 55.
Loopring (LRC).
LRC ran for long-term resistance on Wednesday as prices rose for the fifth consecutive day.
Today’s run saw LRC/USD rise to an intraday high of $0.60, which is over 10% higher than yesterday’s low of $0.5207.
As a result of Wednesday’s surge, LRC is now marginally below its long-term resistance level at $0.6210.
Loopring surged past the ceiling to start the week. It reached a 2-week high of $0.6742 and appears that it may be heading back there.
One obstacle in the way of this will likely be the ceiling of 50, which hasn’t been broken in just over two months.
If this happens, bulls will push prices towards $1.00 after they have fallen below that level for the last month.
What do you think LRC’s June price will be? We’d love to hear your comments.
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