ZIL was up by more than 20% in Thursday’s session, as prices rebounded following a string of recent drops. As it reached its highest point this week, RUNE also saw a 15% increase. Global crypto market capitalization is now up 2.08% at the time of writing.
Zilliqa
Following almost two weeks of declines, ZIL finally stopped the bleeding, rallying by over 20% during today’s session.
ZIL/USD rose to an intraday high of $0.1263 earlier in Thursday’s session, as price continues to move away from its recent support point.
This floor was at the $0.1033 level, which has historically seen significant bullish moves begin from there, and today’s rally follows this trend.
ZIL’s recent momentum has seen prices rise to $0.1245 in the short term, and some are anticipating a breakout.
The 14-day RSI is also trading at resistance.
You can see that the relative strength indicator is at 57.06 at the moment, slightly less than the maximum of 57.70.
We could see ZIL rallies towards $0.1400 if this point is reached.
THORChain, RUNE
RUNE also rose on Thursday, moving past XTZ to cement itself as the world’s 44th-largest cryptocurrency.
Following a bottom of $7.42 during Wednesday’s session, RUNE/USD climbed to an intraday high of $9.35 earlier today.
After what appeared to be an error breakout, RUNE moved from $8.15 support level.
Since today’s surge which saw prices come close to a ceiling of $9.45, there has been some profit taking from traders who look to avoid any price uncertainty heading into the long weekend.
As such, we now have a doji pattern being formed in today’s candlestick, which encapsulates this uncertainty, with bears selling while bulls are buying simultaneously.
Currently, the RSI remains just slightly below 50. However, if the RSI can rise to this level, it will change the narrative. More bulls could be encouraged to reenter the market and pressurize bears into submission.
Is it possible that RUNE could hit $10 by the week’s end? Please share your views with us in the comments.
Credits for the imageShutterstock. Pixabay. Wiki Commons
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