Monero rebounded from recent losses on Tuesday, as the token attempted to recapture recent highs. The move comes as U.S. markets reopened following a public holiday on Monday. Polkadot also moved higher in today’s session, snapping a two-day losing streak.
Monero (XMR) rebounded on Tuesday, as the token moved back towards a recent seven-month high.
Following a low of $165.77, XMR/USD raced to an intraday peak of $173.28 earlier in today’s session.
Today’s move saw monero bounce from its support at $165.00, and climb towards a resistance of $175.00.
As of writing, the token remains below this ceiling, currently trading at the $172.65 level.
Should this hurdle be overcome, XMR bulls will likely attempt to recapture last week’s peak of $187.20.
In order for this to happen, the relative strength index (RSI), which is currently tracking at 68.71, will need to move back towards the 80.00 mark.
Polkadot (DOT) snapped a two-day losing streak on Tuesday, with prices nearing a two-month high.
DOT/USD hit a high of $6.07 earlier in today’s session, which comes less than 24 hours after trading at a low of $5.66.
As a result of Tuesday’s surge, DOT moved to a ceiling at $6.10, and closer to Saturday’s high of $6.51.
Looking at the chart, the rebound came as the 14-day RSI also bounced from its own support point at 72.45.
Currently, the index is tracking at 74.88, with a ceiling at the 82.00 mark a possible target for buyers.
As of writing, DOT has given up earlier gains, and is trading at $5.97.
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Will polkadot climb above $6.51 this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Monero rebounded from recent losses on Tuesday, as the token attempted to recapture recent highs. The move comes as U.S. markets reopened following a public holiday on Monday. Polkadot also moved higher in today’s session, snapping a two-day losing streak.
Monero (XMR) rebounded on Tuesday, as the token moved back towards a recent seven-month high.
Following a low of $165.77, XMR/USD raced to an intraday peak of $173.28 earlier in today’s session.
Today’s move saw monero bounce from its support at $165.00, and climb towards a resistance of $175.00.
As of writing, the token remains below this ceiling, currently trading at the $172.65 level.
Should this hurdle be overcome, XMR bulls will likely attempt to recapture last week’s peak of $187.20.
In order for this to happen, the relative strength index (RSI), which is currently tracking at 68.71, will need to move back towards the 80.00 mark.
Polkadot (DOT) snapped a two-day losing streak on Tuesday, with prices nearing a two-month high.
DOT/USD hit a high of $6.07 earlier in today’s session, which comes less than 24 hours after trading at a low of $5.66.
As a result of Tuesday’s surge, DOT moved to a ceiling at $6.10, and closer to Saturday’s high of $6.51.
Looking at the chart, the rebound came as the 14-day RSI also bounced from its own support point at 72.45.
Currently, the index is tracking at 74.88, with a ceiling at the 82.00 mark a possible target for buyers.
As of writing, DOT has given up earlier gains, and is trading at $5.97.
Register your email here to get weekly price analysis updates sent to your inbox:
Will polkadot climb above $6.51 this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a few digital currencies have outperformed a number of the top ten coins in terms of gains this year.
Digital currency markets have been in the green recently, as the leading cryptocurrency, bitcoin (BTC), has risen 23.29% against the U.S. dollar in seven days. The second-leading digital currency by market capitalization, ethereum (ETH), has also gained 18.39% this week. Out of the top ten positions, bitcoin has outperformed its competitors in terms of seven-day gains. However, a large number of cryptocurrencies outside the top ten have exceeded BTC’s gains in the last week, with much higher increases against the U.S. dollar.
For instance, Decentraland’s MANA token has risen 88.02% this week. Over the last 14 days, decentraland (MANA) has gained 131.8%. While the MANA gains have been significant, at $0.721 per unit, the digital currency is still down 87% from its all-time high on Nov. 25, 2021. The second-leading cryptocurrency this week is frax share (FXS), which has gained 81.69%. FXS has also increased 111% against the U.S. dollar in two weeks. The third-largest gainer this week is the ftx token (FTT), as the exchange token has climbed 62.82% higher during the last seven days.
FTT managed to gain 160.5% against the U.S. dollar in 14 days. Another big gainer over the last seven days is helium (HNT), which jumped 59.53% during the week and 92.8% higher in two weeks. Aptos (APT) has increased 57.21% in seven days and 114.5% in 14 days. Other digital assets that have outperformed bitcoin’s and ethereum’s gains so far this year include solana (SOL), compound (COMP), optimism (OP), convex finance (CVX), the sandbox (SAND), and gala (GALA), respectively.
Meanwhile, as there were a large number of gainers over the last two weeks, there have also been a number of losers. According to seven-day statistics against the U.S. dollar, the biggest loser is flare network (FLR), which has lost 16.76% this past week. The coin is newly launched and has only been around for just over seven days. Other losers against the U.S. dollar this week include nexo (NEXO) and unus sed leo (LEO). After a significant rise on Jan. 16, the cryptocurrency economy as a whole is up 1.47% during the last 24 hours.
What do you think is driving the recent success of Decentraland’s MANA token and other double-digit gaining digital assets? Share your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale
Grayscale Investments' CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is 'a Matter of When and Not ... read more.
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