Biggest Movers: XMR Moves to 5-Week High, Despite Crypto Selloff

Monero moved to its highest level successful 5 weeks connected Thursday, contempt crypto markets chiefly trading successful red. The token roseate to its highest level since June 13 aft extending caller gains. On the different hand, dogecoin dropped little today, contempt Elon Musk announcing that Tesla hasn’t sold immoderate of the meme coin.

Monero (XMR)

Monero (XMR) was a notable mover successful today’s session, arsenic the token roseate for a 4th consecutive day.

Today’s surge saw the token ascent to an intraday precocious of $153.09, which is its highest constituent since June 13.

As a effect of the move, XMR/USD is present closing successful connected a cardinal absorption level astatine $155, which volition apt beryllium a constituent of uncertainty for traders.

This terms ceiling volition coincide with different absorption level, that being of the 14-day RSI, which is presently tracking astatine a three-month peak.

Bears who presumption existent prices arsenic overbought whitethorn usage this arsenic an accidental to reenter, with immoderate earlier bulls being pushed to wantonness their positions.

However, should a breakout of this constituent occur, past XMR volition apt marque a tally towards its higher ceiling of $175.

Dogecoin (DOGE)

Following a determination to a three-week precocious connected Wednesday, dogecoin (DOGE) was successful the reddish successful today’s session.

Prices of the meme coin fell by astir 10% earlier today, contempt comments from Elon Musk, confirming that Tesla had not sold immoderate DOGE successful Q2.

As antecedently written, Tesla had sold 75% of its bitcoin holdings successful the quarter, however, Musk commented that “We person not sold immoderate of our dogecoin”.

Despite this, DOGE/USD fell to an intraday debased of $0.06724 little than 24 hours aft trading astatine a highest of $0.0751.

Although determination are immoderate fundamentals down the move, today’s driblet comes arsenic respective tokens, including DOGE, deed absorption successful terms strength.

As of writing, the meme coin failed to interruption retired of its ceiling astatine 55.8, and is present tracking astatine 53.6.

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