Monero climbed for a third consecutive session on Thursday, as the token moved marginally closer to a six-week high. This rise in price comes despite the fact that the global market cap mostly consolidated, and is trading just 0.50% higher as of writing. As for LINK, chainlink bulls have so far failed to break out of a key resistance point.
Monero (XMR) was one of Thursday’s notable gainers, with prices climbing for a third consecutive session.
XMR/USD rose to a high of $163.19 earlier in today’s session, which comes a day after the token fell to a low of $155.83.
As a result of the move, XMR moved towards last Sunday’s high at $166.07, which was its strongest point since February 20.
XMR/USD – Daily Chart
Looking at the chart, today’s move came as monero surged above a recent resistance level at $160.00.
Overall, the surge came as the 14-day relative strength index (RSI) collided with its own ceiling at the 55.00 mark.
At the time of writing, the index is tracking at 54.86, which is its highest reading this week.
On the other hand, chainlink (LINK) was mostly lower on Thursday, as the token failed to move above a key price point.
LINK/USD slipped to a low at $7.25 in today’s session — this comes after prices hit an earlier peak of $7.53.
Today’s high saw chainlink move towards its ceiling at $7.55, however bulls were unable to secure a breakout.
LINK/USD – Daily Chart
From the chart, it appears that the failure to move beyond $7.55 coincided with the RSI falling at a resistance of its own.
As of writing, the index is tracking at 53.16, which is below the aforementioned ceiling at 55.00.
Overall, LINK is now trading at $7.32, with sentiment in today’s session now mostly bearish.
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Do you expect chainlink to move higher in the coming days? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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