Cardano hit an 11-week high on Thursday as markets reacted to data showing gross domestic product in the US rose 2.9%. The token was up as much as 5% earlier in the day, hitting its strongest point since November. Monero was also in the green, approaching a key resistance level in the process.
Cardano (ADA)
Cardano (ADA) rallied on Thursday, with prices hitting an 11-week high in the process.
After a low of $0.3537 on Wednesday, ADA/USD rose to an intraday high of $0.3866 today.
As a result of this, cardano rose to its strongest point since November 8, which is the last time prices were above $0.4100.
Looking at the graph, ADA has moved lower from previous gains as traders appear to have taken profit near a $0.3875 top.
At time of writing, the token is trading at $0.3774, with the 14-day Relative Strength Index (RSI) near a resistance of its own at 74.00.
The index, which is currently at 69.22, will probably need to move beyond the 74.00 point for ADA it jumps the $0.3875 hurdle.
money (XMR)
In addition to ADAmonero (XMR) also rallied earlier in the day as it approached a key resistance level.
XMR/USD moved to a high of $178.15 earlier in the day, coming less than a day after falling to a low of $169.84.
Today’s rise sent Monero closer to its long-term resistance level at $180.00, which was last broken on Sunday.
As can be seen on the chart, the RSI is currently below a top of its own at 65.00, with a current reading of 63.25.
For the bulls to take XMR Above the $180.00 level, price strength will need to break above the 65.00 mark first.
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Do you expect Monero to rally above $180.00 this week? Let us know your thoughts in the comments.
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