Monero moved to its highest level in five weeks on Thursday, despite crypto markets mainly trading in red. The token rose to its highest level since June 13 after extending recent gains. On the other hand, dogecoin dropped lower today, despite Elon Musk announcing that Tesla hasn’t sold any of the meme coin.
Monero (XMR)
Monero (XMR) was a notable mover in today’s session, as the token rose for a fourth consecutive day.
Today’s surge saw the token climb to an intraday high of $153.09, which is its highest point since June 13.
As a result of the move, XMR/USD is now closing in on a key resistance level at $155, which will likely be a point of uncertainty for traders.
This price ceiling will coincide with another resistance level, that being of the 14-day RSI, which is currently tracking at a three-month peak.
Bears who view current prices as overbought may use this as an opportunity to reenter, with some earlier bulls being pushed to abandon their positions.
However, should a...
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