Sunday, November 27, 2022

Biggest Movers: DOGE Nears 20-Day High, as TRON Also Surges – Market Updates Bitcoin News

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DOGE was trading higher on Monday, as prices rose to their highest level in almost 20 days. TRX was also in the green to start the week, as prices continued to climb, following a recent streak of bullish momentum.

Dogecoin (DOGE)

DOGE was a notable mover during today’s session, as prices rose to their highest point in nearly 20 days.

On Monday, DOGE/USD rose to an intraday high of $0.07839, which came less than 24 hours after trading at a low of $0.07184.

As a result of today’s move, the meme coin collided with a price ceiling at $0.07830, which is the highest point DOGE has hit since June 10.

DOGE/USD – Daily Chart

Since hitting this peak, bulls have vacated earlier positions, pushing prices lower in the process, giving bears a green light to re-enter.

Although still up almost 6% from yesterday’s low, DOGE is currently trading at $0.0756, which is marginally below earlier highs.

This comes as the 14-day RSI hit the 53.9 level, which is its highest reading since April 26, and also a point of resistance.

Should DOGE eventually overcome this point, then we may see further gains in price.

TRON (TRX)

TRX was also trading higher to start the week, as prices continued to rise, following a recent streak of upward momentum.

Following a low of $0.06415 on Sunday, TRX/USD surged to a peak of $0.07005 earlier in today’s session.

This move saw prices climb to their highest point since June 13, when TRON was making its way down to a then one-year low at $0.04700.

TRX/USD – Daily Chart

Since then, prices have been in an ascending triangle, hitting a streak of higher highs in the process, with today’s the latest one of these climbs.

In order to climb further, we might need to see price strength push through an upcoming resistance level on the RSI indicator.

This point, at 50, is one of the only current obstacles in the way of the token recapturing its long-term resistance level at $0.07560.

Do you expect TRX to reach this level in July? 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.




Image Credits: Shutterstock, Pixabay, Wiki Commons

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