Cryptocurrency Biggest Movers: Monero and Solana Higher on Monday.

17-May-2022 By: Anirudh Trivedi

Despite the fact that BTC and ETH were trading down on Monday,

numerous cryptocurrencies rose to start the week. XMR was one of the more aggressive climbers, with Solana going higher as well.

Monero (XMR)

XMR was one of Monday's biggest gainers, with prices rising about $20 from Sunday's lows. To begin the trading week, XMR/USD soared from a low of $127.00 on Sunday to an intraday high of $173.99.

Prices rose for four straight sessions on Monday, hitting a near one-week high in the process.

As bullish impetus diminished as the day went, XMR is now trading just below a ceiling of $173.20, down from earlier highs. The 14-day RSI is presently trading at its own resistance level, below 44.14, and if it breaks, XMR might breach resistance for the first time since March. Should this happen, prices could move closer to the $199 region. A point which XMR last hit only 8 days ago.

SOLANA (SOL)

SOL was higher to begin the week after three consecutive sessions of gains, but prices fell as the day progressed.

SOL/USD closed the day at $53 on Sunday and went on to reach a high of $58.88 in the early hours of Monday's session. Prices have fallen since then, and as of this writing,

SOL is trading at $52.32, which is close to a one-week low.

Since the beginning of April, SOL has plunged by almost $100, with prices falling below $35 last Thursday. Looking at the chart, the 14-day Relative Strength Index is currently tracking at 33.26, just below the 36-point ceiling. If price strength gets beyond this RSI resistance, bulls are likely to try to push prices towards $70.

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