Tron rallied during today’s session, as it headed towards a one-week high, following recent declines. This came as Thorchain’s RUNE continued to trade lower, with today’s drop pushing prices closer to their lowest point since January 2021.
Biggest Movers: Tron Moves to 1-Week High, as Thorchain's RUNE Nears Lowest Level Since January 2021
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Tron ( TRX)
Tron ( TRX) surged towards a seven-day week high during Thursday’s session, as prices rebounded following a recent decline.
Less than a day after trading at a bottom of $0.06955, TRX/USD rose to a peak of $0.07444 earlier in the day.
Today’s peak is the highest level prices have reached since last Saturday, and are slightly below May 13th’s high of $0.07650.
So far this month, TRX has been one of the more volatile tokens, going from a peak of $0.09267 on May 8, to a low of $0.06304 only two days later.
Looking at the chart, the relative strength index ( RSI) has mainly consolidated since that point, being held under a ceiling of 52.50.
As of writing this, price strength is still below this point, and unless we see a breakout of this level, we might see prices drop in upcoming days, despite today’s near 7% rise.
Thorchain (RUNE)
Besides both beginning with the letter “T,” there were no similarities between tron and thorchain (RUNE) on Thursday as far as market activity is concerned.
RUNE/USD was mainly lower during the session, falling close to its lowest point since January 2021.
Prices fell to an intraday low of $2.85 on Thursday, which is roughly $0.50 away from its sixteen-month low of $2.35 which was hit on May 12.
However, since hitting today’s bottom, prices rallied at the support level of $2.87, as they did the day after last week’s drop.
As of writing this, RUNE/USD is now trading at $3.15, with some bulls likely to attempt to push the token towards its resistance of $3.80.
In order for them to be successful in this upward push, there will need to be a surge beyond the ceiling on the 14-day RSI of 35.
Could we see RUNE climb towards $4.00 by the end of this week? Let us know your thoughts in the comments.
