Dogecoin hit a three-month high on Tuesday as the coin’s price surged over 15%. Today’s move comes despite a predominantly downtrend in crypto markets, with global market capitalization down 0.21%. Monero was also up, reaching a multi-month high in the process.
Dogecoin (DOGE)
Less than 24 hours after the Shiba Inu hit a three-month high, its fellow meme coin Dogecoin (DOGE) also hit a twelve-week peak.
The token reached an intraday peak of $0.08848 in today’s session, which follows yesterday’s low of $0.07571.
This is DOGE/USD’s highest level since May 18, and comes after a key resistance point was broken.
Looking at the chart, this range is at $0.0753, which was last broken on July 20 after a false breakout.
As a result, the Relative Strength Index (RSI) is now tracking at 72.20, its strongest reading since April.
Ultimately, the bulls are attempting to reclaim the $0.1000 level, which was last hit on May 11.
To move closer to this, price strength has to break out of its current range of 73.
Monero (XMR)
Apart from DOGE, monero (XMR) was another big mover in today’s session, climbing to its highest point in two months.
XMR/USD rose to a high of $174.11 earlier in today’s session as the bulls crossed the $168.20 resistance.
Today’s peak sees XMR hit its highest level since June 11, and it comes as the RSI bounced off its recent support point.
Looking at the chart, the point is at 55.60, and since the first price hike, the index is now at a reading of 59.32.
It is slightly below the 60.85 resistance level, and with the RSI approaching this point of uncertainty, earlier bulls have moved to close their last few positions.
At the time of writing, XMR/USD is trading at $168.74, down $6 from its prior highs.
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Do you expect Monero to stay above the $168.20 resistance this week? Let us know your thoughts in the comments.
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