QNT climbed over 10% during today’s session, as RUNE and ALGO both rose by as much as 15% on Friday. This comes as cryptocurrency markets were trading nearly 4% higher as of writing this, as markets began preparing for the weekend’s action.
Thorchain (RUNE).
Thorchain (RUNE), which was one the largest gainers Friday was nearly 15% at one stage, after gains gradually eased throughout day.
After a Thursday low of $7.96, the RUNE/USD gained to an intraday peak at $9.52 during today’s session.
Today’s peak was close to last Sunday’s high of $9.58, which was the highest level RUNE had traded at since December 4.
Friday’s surge in price came as prices once again broke out of the resistance level at $8.99, however as with previous breakouts at this level, market uncertainty sent prices lower.
Looking at this chart, today’s gain follows three consecutive sessions of declines, with the reversal pushing the RSI to its highest point this week.
This level is now acting like a ceiling and as resistance to any further increases in RUNE’s price.
Algorand (ALGO).
Both quant (QNT) and ethereum classic (ETC) were trading higher for most of today’s session, however, gains eased throughout the course of the day.
This was the moment when algorand, ALGO, maintained its bullish momentum. It soared to almost a five week high.
Today’s rally was the tenth day in twelve that the price of ALGO has risen, with today’s gains taking us just above resistance of $0.9395.
ALGO/USDThe intraday high was $0.94722, which marks the highest price since February 17. This marked a shift in prices into overbought territory.
Looking at the chart, the 14-day RSI indicator is now tracking at 67.80, which is a point that price strength hasn’t hit since September last year.
The ALGO bears may already be anticipating a reverse, but some bulls might look to drive prices higher towards the $1.10 ceiling.
Are we expecting prices for ALGO to rise heading into weekend? Please share your views with us in the comments.
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