Fun

Biggest Movers: XMR Surges to 1-Month High, as ALGO Also Climbs on Saturday

News Feed - 2022-07-16 10:07:32

Biggest Movers: XMR Surges to 1-Month High, as ALGO Also Climbs on Saturday


XMR was a notable mover in crypto markets to start the weekend, as prices rose to their highest level in over four weeks. Despite a large section of the market consolidating on Saturday, ALGO was also higher, as it too hit a multi-week high during the weekend. Monero (XMR)


Monero was a notable mover on Saturday, as the token rallied to its highest point in over four weeks in today’s session.


Following a low of $133.16 on Friday, XMR/USD raced to an intraday peak of $141.17 to start the weekend.


This move saw the token race hit its highest point since June 13, and this came as prices broke beyond a key resistance level at $136. XMR/USD – Daily Chart


Since this breakout, volatility in XMR has increased, with some bears trying to halt the current streak of upward momentum.


As of writing, prices have slightly slipped from earlier highs, with monero now trading around the $138 region.


Should earlier bullish sentiment continue to fall, then we may soon see XMR trading below its long-term ceiling of $136.


Algorand (ALGO)


ALGO was another relatively strong gainer on Saturday, as it too rose to a multi-week high to start the weekend.


The token hit an intraday peak of $0.3425 earlier today, which is the most it has traded at since June 26.


As a result of today’s surge, ALGO/USD is now on the cusp of colliding with its long-term price ceiling at $0.3500. ALGO/USD – Daily Chart


Looking at the chart, relative strength has risen considerably over the last few weeks, with the index now tracking at 54.19.


This is the highest reading for the RSI since April 4, when prices were trading at double the current value.


Bulls seem to be aiming to move past the upcoming price ceiling, however it is likely that bears will look to send prices lower at that level.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story algo, Algorand, Analysis, Monero, xmr


Will bullish momentum overpower bearish sentiment at the upcoming resistance level? 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, ETH Consolidate on Saturday, Following Yesterday’s Gains  MARKET UPDATES | 11 hours ago Bitcoin ETFs and Open Interest From BTC Futures, Options Follow Crypto Economy"s Spot Market Decline MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, Vladimka production Previous articleBitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate on Saturday, Following Yesterday’s Gains  Next articleECB’s Lagarde, Panetta See Digital Euro as More Efficient Payment Means Than Crypto 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple 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.Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms

News Feed

XRP Posts Highest Monthly Close Ever—What’s Next?
Este artículo también está disponible en español. XRP has ushered in 2025 with a robust bullish performance, achieving its highest monthly close to date. As a result of s
Ether turns inflationary for the first time since Merge
Zoltan Vardai10 hours agoEther turns inflationary for the first time since MergeThis marks the first period of Ethereum becoming inflationary in the past year and a half since the Merge took place.7889 Total views35 Tota
Report: Celsius Seeks Help From Restructuring Lawyers Over Financial Hardship
Report: Celsius Seeks Help From Restructuring Lawyers Over Financial Hardship Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journa
Gareth Jenkinson9 hours agoRussian telecoms giant MTS announces ads service targeting Telegram usersTelegram denies that it has entered any advertising-related agreements with Russian companies.2978 Total views9 Total sh
Jesse Coghlan5 hours agoSingapore’s central bank slugs Three Arrows founders with 9-year banThree Arrows Capital founders Kyle Davies and Zhu Su are barred from regulated activities or acting as top execs at any financ
Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners
Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Co
Hermi De Ramos10 hours agoSaudi Arabia looks to blockchain gaming and Web3 to diversify economyThe kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3.300
Finland Sells 1,889 Seized Bitcoins for $47 Million — Proceeds Going to Ukraine
Finland Sells 1,889 Seized Bitcoins for $47 Million — Proceeds Going to Ukraine Finland has sold 1,889 bitcoins seized in narcotic cases for 46.5 million euros ($47.4 million). T
Megan Nyvold11 hours agoBlockchains are becoming dollarized: Now what?The merit of stablecoins is that they create demand for the blockchain — driving fees that are necessary to pay for mining, and hence security.703 T
Yearnify Finance (YFY) Hidden Gem – Decentralized Finance Project, Pre-Sale Round 2 Is Now Live
Yearnify Finance (YFY) Hidden Gem - Decentralized Finance Project, Pre-Sale Round 2 Is Now Live PRESS RELEASE. Yearnify Finance is considered as one of the most
LBank Exchange Will List Dexioprotocol (DEXI) on November 27, 2021
LBank Exchange Will List Dexioprotocol (DEXI) on November 27, 2021 press release PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 25, 2021 – LBank Exchange, a global digital asset t
Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market
Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market The Central Bank of Nigeria (CBN) recently announced t