Monero saw substantial growth during Monday’s trading, reaching its highest level since February. The increase coincided with a modest rise in the global cryptocurrency market capitalization at the start of June’s first working day. Cosmos also maintained its recent uptrend, achieving a one-month high.
Monday’s trading highlighted Monero (XMR) as a significant gainer, with the cryptocurrency touching a peak unseen in the past five months.
XMR/USD achieved an intraday high of $172.11, following a previous day’s low of $163.37.
XMR/USD – Daily Chart
In total, XMR has ended in the positive for sixteen of the past nineteen sessions, marking an over $40.00 increase in this duration.
Despite this, early advances receded when the bulls couldn’t maintain the breakout at the $172.00 mark, with the current price being $170.73.
This retreat was partly due to the relative strength index (RSI) hitting its own resistance at 73.00.
Cosmos (ATOM) was another cryptocurrency that demonstrated impressive performance on Monday, reaching a high not seen in the past four weeks.
After a Sunday low of $9.40, ATOM/USD surged to an early session high of $9.93.
This surge led Cosmos to its loftiest level since June 7, the last occasion it surpassed the $10.00 mark.
ATOM/USD – Daily Chart
The chart indicates that this level may also act as a resistance point, with the bulls facing difficulties in crossing this threshold.
This breakthrough will likely happen when the price strength, presently at 59.33, surpasses a ceiling of 60.00.
If this event transpires, the subsequent goal for ATOM bulls could potentially be an elevated ceiling at $11.00.
Frequently Asked Questions (FAQs) about Cryptocurrency growth
What was the performance of Monero during Monday’s trading session?
Monero exhibited significant growth during Monday’s trading, achieving its highest level since February. It recorded an intraday high of $172.11, which is the strongest point since February 4 of the previous year when the price reached $174.95.
What was the performance of Cosmos during the same trading session?
Cosmos also showed an impressive upward trend, reaching a four-week high. After recording a low of $9.40 on Sunday, ATOM/USD surged to an early session high of $9.93, which was its highest level since June 7, the last time it was above $10.00.
What resistance levels did Monero and Cosmos face during the session?
Monero faced a resistance level at the $172.00 mark, with the relative strength index (RSI) also hitting resistance at 73.00. For Cosmos, the $10.00 level appears to be a resistance point, with a breakthrough likely once the price strength surpasses a ceiling of 60.00.
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More about Cryptocurrency growth
- Monero Price Index
- Cosmos Price Index
- Cryptocurrency Market Capitalizations
- Relative Strength Index (RSI)
- Understanding Cryptocurrency Price Analysis