Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains

Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains

Ethereum classic was approaching a ten-week high on Wednesday, as prices rose by over 14% in today’s session. These gains came as prices rose for a second consecutive day, with tron also extending recent gains during hump day. Overall, the crypto market cap is 1.51% higher as of writing. Ethereum Classic (ETC)

Ethereum classic (ETC) was a notable mover in today’s session, as the token rose by almost 15% on Wednesday.

Following a low of $23.72 on Tuesday, ETC/USD rallied to an intraday peak of $27.51 earlier in the day.

The move saw ethereum classic near its long-term resistance level of $28, which has been mostly held since May 6. ETC/USD – Daily Chart

Last Saturday saw the token briefly breakout of this point, climbing to $28.23, which was the highest level prices have traded since May.

Looking at the chart, the 14-day relative strength index (RSI) is currently tracking at 68.44, which is slightly below a resistance level of 70.

If ETC is to maintain this current run of momentum, price strength will need to move beyond this upcoming ceiling. Tron (TRX)

In addition to ETC, tron (TRX) was also up for a second straight day, as prices continued to move away from a recent support point.

TRX/USD rallied to an intraday high of $0.06631 in today’s session, which is over 3% higher than yesterday’s low of $0.06383.

Today’s rally comes after TRX bounced from its price floor of $0.06300 during yesterday’s session, as bulls put an end to a five-day losing streak. TRX/USD – Daily Chart

As seen from the chart, this rebound comes despite the 10-day moving average (red), crossing over downward against the 25-day MA (blue).

Typically, such a cross signals a downtrend, however sentiment has now seemingly shifted in favor of bulls.

However, this might soon be tested, with relative strength fast approaching a resistance level of 49.85.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, ETC, Ethereum Classic, tron, trx

Do you expect tron to fall once the RSI reaches this resistance? 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 Marginally Higher Ahead of Today’s Interest Rate Decision MARKET UPDATES | 12 hours ago Biggest Movers: SOL Slips to 12-Day Low, as NEAR Drops by Nearly 12% on Tuesday MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, Sharaf Maksumov / Shutterstock.com Previous articleBiggie Smalls NFT Collection Sells Out in 10 Minutes, Owners Get Licensing Rights to Unreleased Freestyle Next articleGamestar+ Confirms Partnership With Ava Labs and Impending Launch on Avalanche 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 ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments