TRX rose by more than 17% Thursday thanks to founder H.E. Justin Sun revealed that USDD was a stablecoin and would be released on the TRON Blockchain. XMR also saw a big rise today. It reached its highest point since November.
TRON (TRX).
Today, TRX surged as H.E. Justin Sun from TRON has confirmed that TRON will soon launch a new stablecoin.
In a tweet, Sun stated that, “TRON DAO joined hands with major blockchain players to launch USDD (Decentralized USD), the most decentralized stablecoin in human history.”
Do Kwon from Terra welcomed the announcement. TRX/USD rose to an intraday peak of $0.07405 upon the news.
As of writing, TRX is up 16.54% in today’s session, climbing to its highest point since April 2 as a result.
Today’s high sees prices near the long-term ceiling of $0.07500, which hasn’t been broken since March 31, where the move matured to being a false break.
Although the ceiling has held steady throughout the year so far, with the rising momentum of moving averages, there could soon be a shift beyond this point.
Potential obstacles include the 14-day RSI. The RSI is tracking at an eighteen day high of 66.82. That is just marginally lower than resistance at 68.
Monero (XMR)
XMR was up by as much as 8% in today’s session, as prices rallied to a multi-month high, following a second day of gains.
After trading at $253.56 as of Wednesday’s close, the XMR/USD price rose to $277.14 today.
Today’s move saw XMR hit its highest point since November 14, when prices were falling from earlier highs close to $300.
As seen on the chart, XMR has now rallied past its key resistance level of $273 as a result of today’s run, however there could be another ceiling in the way.
This is the 14-day RSI. It currently resides at the 68.9 levels, which are deeply overbought but just below the ceiling for 69.8.
Given the historical strength of the price ceiling, bears are likely to have entered the market. If resistance holds, there will be more.
Could we possibly see XMR trading at $300 by the end of April We’d love to hear your comments.
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