AnalysisBitcoinMarket UpdatesNewsXRP
Terra classic rose by as much as 20% in today’s session, which comes following a recent bearish streak. Today’s rally follows Thursday’s drop to a key support point, with bulls using this as an ideal area to reenter. Xrp was also higher, as it moved closer to a long-term resistance level.
Terra Classic (LUNC)
Terra classic (LUNC) was one of the most notable gainers on Saturday, as the token rose by nearly 20% to start the weekend.
Following a low of $0.0002671 on Friday, LUNC/USD rose to an intraday peak of $0.000328 earlier today.
The move came as the token hit a floor of $0.000248 on Thursday, with bulls using this as an ideal point to reenter the market.
LUNC/USD – Daily Chart
As of writing, it appears that these bulls are now targeting a resistance level of $0.000380 as a potential exit zone.
If this were to happen, first the 14-day relative strength index (RSI) would need to climb past a ceiling of its own at the 55.00 mark.
Currently the index is tracking at 53.41, which is its highest point since the start of the week.
Like terra classic, XRP was also in the green to start the weekend, as the token moved closer to a key price ceiling.
On Friday, XRP/USD found itself trading below a support point of $0.3260, with prices falling to as low as $0.3212.
However, bulls refused to be overpowered, pushing price to a peak of $0.3571 earlier today.
XRP/USD – Daily Chart
Looking at the chart, XRP is now nearing a resistance level of $0.3610, which was its level at the beginning of the week.
In order to recapture this high, price strength will need to rise further, especially as the RSI nears a resistance point of 56.00.
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Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
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Source : Bitcoin
