Biggest Movers: NEXO up Nearly 50% After Binance Listing, While TRON Climbs to 1-Week High

NEXO was up by astir 50% connected Friday, arsenic markets reacted to the quality that Binance was listing the token connected its platform. Today’s surge sent NEXO to a multi-week high, portion TRON besides moved higher, hitting a 1 week peak.

NEXO

Two weeks aft announcing a concern with Mastercard to motorboat the world’s archetypal “crypto-backed” outgo card, NEXO contiguous achieved different milestone.

Binance confirmed that it volition beryllium adding the token to its platform, and this quality was good received by markets.

NEXO/USD roseate by astir 50% during today’s session, hitting an intraday precocious of $3.66 successful the process.

NEXO/USD – Daily Chart

Friday’s surge comes little than 24-hours aft prices were trading astatine $2.14, and arsenic of penning are tracking astatine a grounds high.

This caller highest comes pursuing a 3 time rally which began astatine enactment of $2.10, with 2 semipermanent absorption levels breached arsenic a effect of the bullish ascent.

The terms of NEXO, which launched successful December past twelvemonth is present overbought, with the RSI tracking astatine 71.94, which is simply a record. Many volition expect a reversal successful upcoming sessions arsenic a result.

TRON

TRON was besides higher during today’s session, rising to a 1 week high, pursuing 3 consecutive days of rallies.

As of penning this, TRX/USD deed a highest of $0.06967 connected Friday, which is its highest level since April 22.

This 1 week precocious sees TRX interruption past its semipermanent absorption level of $0.06800, with immoderate present targeting a higher ceiling of $0.07600.

TRX/USD – Daily Chart

Looking astatine the chart, a upwards crossover of the 10-day and 25-day moving averages has occurred, which typically signals a bullish trend.

However, for this inclination to stay connected people we volition apt request to spot a breakout of the existent ceiling connected the 14-day RSI.

This absorption is astatine 54, with comparative spot presently tracking astatine 53.05, nevertheless should this hurdle beryllium overcome, we volition apt spot an influx of TRX bulls.

Is this existent ceiling a trap acceptable by bears to drawback unsuspecting bulls anticipating a breakout? Let america cognize your thoughts successful the comments.

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