LUNC up 20% on Saturday, XRP moves towards 1-week high – Market Updates Bitcoin News
Terra classic rose as much as 20% in today’s session, which comes after a recent bearish streak. Today’s rally follows Thursday’s drop to a key support point, with bulls using this as an ideal area to re-enter. Xrp was also higher as it moved closer to a long-term resistance level.
Terra Classic (LUNC)
Terra classic (LUNC) was one of the most notable winners on Saturday, as the token surged nearly 20% to start the weekend.
After a low of $0.0002671 on Friday, LUNC/USD rose to an intraday high of $0.000328 earlier today.
The move came as the token hit a floor of $0.000248 on Thursday, with bulls using this as an ideal point to re-enter the market.
At the time of writing, these bulls now appear to be targeting a resistance level of $0.000380 as a potential exit zone.
If this were to happen, the 14-day relative strength index (RSI) must first climb past a separate ceiling at 55.00.
Currently, the index is tracking at 53.41, which is the highest point since the beginning of the week.
Like terra classic, XRP was also in the green to start the weekend as the token moved closer to a key price ceiling.
On Friday, XRP/USD found itself trading below a support point at $0.3260, with prices falling as low as $0.3212.
However, bulls refused to be overpowered, pushing the price to a high of $0.3571 earlier today.
Looking at the chart, XRP is now approaching a resistance level of $0.3610, which was the level at the beginning of the week.
To recapture this high, price strength will need to rise further, especially as the RSI approaches a resistance point of 56.00.
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