Tron rose to a one-month high in today’s session, hitting a key resistance point in the process. The surge in price comes despite cryptocurrency markets trading mostly lower on Monday. Another exception to this decline was maker, which remained close to an eight-week high.
Tron (TRX) surged to a four-week high to start the week, hitting a key resistance point in the process.
Following a low of $0.06234 on Monday, TRX/USD climbed to a peak of $0.06492 earlier in the day.
This saw prices near a collision with a key resistance point of $0.06500, hitting their strongest point since September 11 in the process.
As can be seen from the chart, earlier gains have somewhat eased, as traders liquidated their positions at this point of resistance.
Currently tron is trading at $0.06369, despite the day’s slippage, remaining nearly 2% higher than yesterday’s low.
As of writing, the 14-day relative strength index (RSI) is tracking at 61.65, which is its highest point in over five months, and could potentially give way to the reemergence of bears later in the week.
Maker (MKR) was also in the green on Monday, as the token was trading close to a two-month high.
Following a high of $1,111.14 on Sunday, MKR/USD slipped to an intraday low of $882.56 earlier today.
Prices of the token have been climbing over the past week, since hitting a floor of $815.00 last Friday.
As of writing, maker is currently trading at $940.45, with the RSI tracking above 70, which is in overbought territory.
Like with tron earlier, this could be an opportune time for bears to reenter the market, in the hopes that a current high has already been established.
However, some traders will continue to maintain bullish sentiment, and hope to move beyond a higher ceiling of $1,200.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect maker to rally beyond this ceiling in October? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.