Biggest Movers: XMR, DOT rallying higher, rebounding from recent declines
Monero (XMR) staged a rally on Tuesday as the coin moved back to its recent seven-month high. After a low of $165.77 today, XMR/USD rose to an intraday high of $173.28 earlier in the session and with this we can see Monero bounce from support at $165.00 with today’s move and thereafter The fall towards a resistance level of 175.00 and at the time of writing the coin is definitely holding below this range and is currently trading at the level of $172.65.
The question now becomes whether this hurdle should be overcome as the xmr bulls would like to reach last week’s peak of $187.20 and for this to happen the Relative Strength Index which is currently tracking at 68.71 would need a 80.00 mark. Will need to go back.
Polkadot (DOT) also broke its double bottom happiness on Tuesday and its price reached a 2-month high. Certainly in today’s session we can see that the earlier high of $6.07 was abandoned because of what appears to be a low of $5.66 less than 24 hours of trading and as a result of Tuesday’s bounce we can see DOT moved to a high of $6.10, and was close to Saturday’s high of $6.51. It can be inferred from the chart that the rebound came as the Relative Strength Index bounced from its own support point at 72.45. Currently, the index is tracking at 74.88, with a high of 82.00 being a target for buyers and as of writing it has given up earlier gains and is currently trading at $5.97.