XMR Moves To 10-Day Highs, AAVE Remains Close To 5-Week Peak – Market Update Bitcoin News

Monero hit a 10-day high as the token crossed a key resistance level on Wednesday. Today’s move marks the fourth straight day of gains for the token following a bounce from a long-term bottom. Aave was also in blue as he stayed near his 5-week peak.

Monero (XMR)

Monero (XMR) was one of the exceptions as it extended its recent rally despite most of the crypto markets falling on Wednesday.

Less than 24 hours after trading at a low of $145.41, XMR/USD surged to an intraday peak of $148.46 early in today’s session.

Today’s move marks Monero’s fourth straight gain, reaching its highest level since October 9.

Looking at the charts, the hump day peaked after breaking the key resistance point at $147.00.

Another important observation comes from the 14-day Relative Strength Index (RSI).

At the time of writing, the index is tracking 53.88, its highest since September 12th.

AAVE

Aave (AAVE) continued trading near multi-week highs in today’s session as the token remained near its recent peak.

After reaching a five-week high of $83.33 on Tuesday, AAVE/USD peaked at $83.19 today.

Yesterday’s high shows the token has just broken above the $83.30 resistance level and the bulls will try to approach this point today.

Bullish sentiment remains high as the 10-day (red) and 25-day (blue) moving averages appear set for an upward crossover.

If this happens, the current cap of $83.30 is likely to be breached and the bulls could target the $90.00 levels.

The RSI is currently tracking 60.33, its strongest point since mid-August, and this could be an entry point for the bears hoping to push the overbought market down.

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Is it possible to hit $90.00 by the end of the month? Let us know what you think in the comments.

image credit: Shutterstock, Pixabay, Wiki Commons

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