NEXO was up nearly 50% on Friday, as the market reacted to news that Binance was listing the coin on its platform. Today’s surge sent NEXO to a multi-week high, while TRON also rallied to a one-week high.
nexo
Two weeks after announcing a partnership with Mastercard to launch the world’s first “crypto-backed” payment card, Nexo achieved another milestone today.
Binance confirmed that it will be adding the token to its platform, and the news was well received by the markets.
NEXO/USD is up almost 50% during today’s session, reaching a high of $3.66 in the process.
Friday’s surge comes less than 24 hours after the price was trading at $2.14, and is tracking a record high as of writing.
This recent peak comes after a three-day rally that began with support at $2.10, where two long-term resistance levels were breached as a result of a sharp rise.
The price of NEXO, which was launched in December last year, is now overbought with the RSI tracking at 71.94, which is a record. As a result many would expect a turnaround in the upcoming sessions.
tron
TRON also reached a one-week high during today’s session, after three consecutive days of rallies.
At the time of writing this, TRX/USD peaked at $0.06967 on Friday, the highest level since April 22.
At this one-week high, TRX broke its long-term resistance at $0.06800, with some now targeting the higher range of $0.07600.
Looking at the chart, there has been an upward crossover of the 10-day and 25-day moving averages, which usually indicates a bullish trend.
However, for the trend to continue for sure, we would need to break the current range on the 14-day RSI.
This resistance is at 54, relative strength is currently at 53.05, however should this hurdle be overcome, we will see an influx of TRX bulls.
Is this existing ceiling a trap that bears have used to catch unsuspecting bulls hoping for a breakout? Let us know your thoughts in the comments.
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