Biggest Movers: XTZ Nears 3-Week High, UNI Remains Close to 2-Month High
XTZ was a notable mover in the crypto top 100 on Monday, as prices rose towards a three-week high to start the week. Prices collided with a key resistance level during the move, and this came as UNI continued to trade above a ceiling of its own. Tezos (XTZ)
XTZ was a notable mover to start the week, as prices rose towards a three-week high during Monday’s session.
Following a low of $1.54 during yesterday’s session, XTZ/USD rose to an intraday peak of $1.68 earlier today.
This surge in price saw the token collide with a key resistance level at $1.67, with earlier gains easing since that point. XTZ/USD – Daily Chart
Overall, price still remains close to this peak, with bulls attempting to break the ceiling and move towards the $1.80 level.
If successful, the break would see XTZ trading at its highest point since June 12, when prices were making their way down from $2.
In order to reenter this region, price strength would need to significantly surge, pushing momentum above a resistance level of 56 on the 14-day RSI indicator.
Uniswap (UNI)
UNI was also marginally higher on Monday, as prices continued to trade above a key resistance level, following a recent breakout.
The token hit a peak of $6.38 to start the week, which is higher than its $6 ceiling, which was broken during Saturday’s session.
Bulls seem to be consolidating the weekend’s gains, which saw UNI/USD rise to its highest point since May 10. UNI/USD – Daily Chart
As a result of this surge, relative strength is now overbought, with the RSI tracking at 63, after hitting a resistance level of 69 during the weekend.
So far, bullish sentiment remains, however should bearish pressure increase, we could see prices falling below $6, wiping out recent gains in the process. Tags in this story Analysis, Tezos, UNI, uniswap, xtz
Despite being overbought, could prices keep rising further? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Falls Below $22,000 to Start the Week MARKET UPDATES | 11 hours ago 70 to 90% Down — Crypto Economy"s Decline Shakes Out $2 Trillion in 8 Months MARKET UPDATES | 1 day ago
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