Biggest Movers: XMR, DOT Move Higher, Rebounding From Recent Declines

Biggest Movers: XMR, DOT Move Higher, Rebounding From Recent Declines

Monero rebounded from recent losses on Tuesday, as the token attempted to recapture recent highs. The move comes as U.S. markets reopened following a public holiday on Monday. Polkadot also moved higher in today’s session, snapping a two-day losing streak. Monero (XMR)

Monero (XMR) rebounded on Tuesday, as the token moved back towards a recent seven-month high.

Following a low of $165.77, XMR/USD raced to an intraday peak of $173.28 earlier in today’s session.

Today’s move saw monero bounce from its support at $165.00, and climb towards a resistance of $175.00. XMR/USD – Daily Chart

As of writing, the token remains below this ceiling, currently trading at the $172.65 level.

Should this hurdle be overcome, XMR bulls will likely attempt to recapture last week’s peak of $187.20.

In order for this to happen, the relative strength index (RSI), which is currently tracking at 68.71, will need to move back towards the 80.00 mark. Polkadot (DOT)

Polkadot (DOT) snapped a two-day losing streak on Tuesday, with prices nearing a two-month high.

DOT/USD hit a high of $6.07 earlier in today’s session, which comes less than 24 hours after trading at a low of $5.66.

As a result of Tuesday’s surge, DOT moved to a ceiling at $6.10, and closer to Saturday’s high of $6.51. DOT/USD – Daily Chart

Looking at the chart, the rebound came as the 14-day RSI also bounced from its own support point at 72.45.

Currently, the index is tracking at 74.88, with a ceiling at the 82.00 mark a possible target for buyers.

As of writing, DOT has given up earlier gains, and is trading at $5.97.

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

Will polkadot climb above $6.51 this week? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Rising Bitcoin Prices Cause Cascade of Short Liquidations, Highest Ratio of Short vs. Long Wipeouts Since July 2021 MARKET UPDATES | 34 mins ago 2023’s Crypto Gainers: Decentraland"s MANA Token Outperforms Bitcoin With 88% Increase in One Week MARKET UPDATES | 8 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous article2023’s Crypto Gainers: Decentraland’s MANA Token Outperforms Bitcoin With 88% Increase in One Week Next articleDefi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months 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 ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether