Solana rose on Thursday for the second consecutive day, moving closer to $35.00 as long-term resistance. Monero was also in the green during today’s session, extending recent gains in the process. Markets attempted to recover after a red tsunami that swept across markets earlier in the week.
Solana (SOL) was mostly higher during Thursday’s session, as the token moved towards a key resistance level.
After a Wednesday low of $32.79, SOL/USD climbed to an intraday peak of $33.92 on Wednesday.
Solana moved closer to $35.00 as a result. This ceiling has remained steady for most of the past two weeks.
As can be seen from the chart, today’s climb led to the 10-day (red) moving average nearing a crossover with its 25-day (blue) counterpart.
Despite this possibility, prices could remain low until the relative strength index (RSI), 14-day breakout from an upcoming ceiling.
The current index is at 49.22 and is close to 51.00. This will be a significant hurdle that could prevent further gains by SOL.
Another notable mover in today’s session was monero (XMR), which also moved higher for a second consecutive day.
Even with current volatility in markets, the XMR/USD managed to climb on Thursday and hit a peak at $148.98.
As a result of today’s surge, the token remains close to Monday’s top of $152.84, which was a two-week high.
It was very close to $153.00 resistance, which suggests that bulls decided to take profits rather than pushing for a breakout.
There is a good chance that monero bulls will now be trying to rally above the ceiling in coming days.
However, like solana, XMR will need to move beyond a ceiling of 51.55 on its RSI, if it is to extend today’s run.
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