01 Jun Biggest Movers: TRX Moves Towards 7-Month High as KSM Extends Recent Gains
TRON neared a seven-month high on Wednesday, as prices climbed for a third consecutive session. This came while KSM also rallied earlier today, gaining by double digits on hump-day.
TRX moved towards a seven-month high during today’s session, as prices climbed by almost 15% on Wednesday.
After trading at a low of $0.08039 during Tuesday’s session, TRX/USD rose to an intraday peak of $0.09094 earlier today.
This move saw TRX break out of its long-term resistance level of $0.08890 for the first time since early May.
Following a recent round of consolidation, prices have now surged for three straight days, with today’s surge taking prices to a multi-week high.
Wednesday’s high was slightly below $0.09250, which was hit on May 8, and is the highest level TRX has been at since December 9.
As of writing, earlier gains have somewhat faded, and this comes just as the 14-day RSI hit a ceiling of 64.35.
KSM also rose by double digits on Wednesday, as prices climbed to their highest point in the last seven days.
Today saw KSM/USD rise to an intraday high of $86.37, which is the most it has traded at since May 23.
This surge comes as prices rose for a fifth consecutive session, following a false breakout attempt at a floor of $70.42.
Looking at the chart, today’s gains have since eased, and this comes as bulls fled KSM while it approached its resistance point of $87.
The Relative Strength Index has also hit a ceiling of its own at 44.55, with this likely the signal to bears to exit, pending further confirmation.
Should this ceiling eventually be cleared, then we will likely see bulls attempt to take KSM towards the $100 mark.
Do you believe we will see KSM climb to $100 in June? Let us know your thoughts in the comments.
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