Tron (TRX) hit a five-month high in today’s session as bulls continue to feed on recent news on the USDD stablecoin. While TRX climbed to multi-month highs, WAVES moved away from two-month lows today, as prices gained up to 15%.
Tron (TRX)
May 4th was definitely on Wednesday with Tron, as TRX was one of the most notable gainers in today’s session, with prices hitting a five-month high.
After hitting a low of $0.07003 during Tuesday’s session, TRX/USD broke a key resistance level to reach a high of $0.08134 in the process.
The move broke the $0.07600 range, resulting in TRX hitting an all-time high on Christmas Day last year.
Although earlier gains have turned lower, which is likely to result from a liquidation position for the bulls, the price is still slightly above resistance.
At the time of writing, TRX is now trading at $0.07688, which is up 7% from yesterday’s lows.
The 14-day RSI is now tracking at 66.11, the highest price strength since April 2, 2022, and is close to another range of 67.54, another possible reason for the reduction in earlier gains. Why have you come?
Wave’s
While TRX was the most notable gainer on Wednesday, WAVES was easily the biggest, pushing up as much as 15% in prices.
WAVE/USD rose to a high of $14.45 earlier today as the price rebounded from its lowest level in the past two months.
WAVES hit a low of $11.89 on Tuesday, just above its bottom at $11.80, the lowest price since February 28.
However, as seen on the chart, Waves traded at this level last time, with today’s move raising hopes of a price reversal.
WAVES was one of the hardest-hit tokens during April’s crypto red wave, with prices running from a peak of $63.69, to a recently announced floor.
Price strength is currently at 33.36, as seen on the RSI, which is in overbought territory, and could be a good sign for those who believe that we may have seen the worst.
Will we see that April’s red wave becomes deeper in May, the more it will start to fade? Let us know your thoughts in the comments.
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