XMR Moves to 10-Day High, AAVE Remains Near 5-Week Peak – Market Updates Bitcoin News

Monero reached its highest level in ten consecutive days as it moved above a critical resistance level Wednesday. Today’s move sees the token rise higher for a fourth consecutive day, following a rebound from its long-term floor. Aave also remained at a peak of five weeks.

Monero (XMR)

Despite crypto markets generally trading lower on Wednesday but monero (XMR), one exception was made, which extended its recent gains.

XMR/USD surged to an intraday peak of $148.46 earlier in today’s session, which comes less than 24 hours after it was trading at a low of $145.41.

Today’s move sees monero in the green for the fourth straight session, resulting in prices hitting their highest point since October 9.

Biggest Movers: XMR Moves to 10-Day High, AAVE Remains Near 5-Week Peak
XMR/USD – Daily Chart

Looking at the chart, hump day’s peak came following a breakout of a key resistance point of $147.00.

A key observation is the 14-day relative stability index (RSI), that also passed 52.75 as its maximum.

At the time of writing, index tracking is at 53.88. That’s its highest point since September 12.

Aave (AAVE).

Aave (AAVE) continued to trade near a multi-week high in today’s session, as the token remained near its recent ceiling.

The AAVE/USD hit an earlier peak of $83.19 today, following a $53.33 move on Tuesday.

Yesterday’s high saw the token marginally break out of a resistance level of $83.30, with bulls attempting to stay close to this point today.

Biggest Movers: XMR Moves to 10-Day High, AAVE Remains Near 5-Week Peak
AAVE/USD – Daily Chart

The bullish sentiment is high as both the 10-day (red) and 25-day(blue), moving averages seem to be pointing towards an upwards crossover.

If this happens, then the $83.30 ceiling will most likely be broken. Bulls could target the $90.00 mark.

The RSI stands at 60.33. This marks its highest level since mid-August.

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Eliman Dambell

Eliman has a unique perspective on market analysis. He was previously a retail trading teacher and brokerage director. He is currently a commentator on various asset classes including Crypto, Stocks, and FX.

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