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

Started by Bitcoin, Jan 18, 2023, 06:32 am

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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.



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.



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.


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


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