CVX was trading nearly 14% higher to start the weekend, as RUNE extended yesterday’s gains, climbing by over 13% on Saturday. CVX now trades at 35%, climbing to multiple-week highs.
Thorchain (RUNE).
RUNE was one of the biggest gainers in crypto markets for a second consecutive session, as it further cemented itself as the world’s 45th-largest cryptocurrency by market cap.
Following a high of $9.52 on Friday, RUNE/USD rallied to a greater high of $10.26 to kick off the weekend’s session.
Today’s peak is the highest level RUNE had traded at since December 3, when prices were falling from highs around $13.
Saturday’s move saw the 14-day RSI indicator once again touch its resistance point of 79.11, which hasn’t been broken since November.
This chart shows that $11.30 seems to be the likely next destination for bulls looking to increase their gains. However, the journey to get there will likely prove turbulent.
The prices are too high and could reverse despite bullish sentiment in the previous sessions.
Convex Finance – CVX
Saturday’s price surge has sent CVX to its highest point in over three weeks, with the token now trading more than 35% higher in the last week.
Following a low of $23.12 less than 24 hours ago, CVX/USD climbed to a peak of $27.39 during today’s session.
CVX prices have risen in 11 of 13 trading days. The run began with CVX support at $15.40.
Market sentiment has been impacted by the rally in prices. The RSI continues to track at its historical highs.
The chart shows that the price strength has moved to 72.04 which is well over the 54.25 mark.
CVX traded around resistance at $27.90 despite the rally. This may indicate that bears are trying to lower prices.
Is it possible that this price ceiling could be broken in the coming weekend? We’d love to hear your comments.
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