CVX is up nearly 35% this week and has reached multi-week highs.
Thorchain (RUNE).
RUNE was the largest gainer in crypto markets for the second consecutive session. It further established itself as the 45th-largest cryptocurrency market cap.
After a Friday high of $9.52, RUNE/USD rallied higher to $10.26 to start the weekend’s session.
Today’s peak marks the highest RUNE level traded since December 3, 2003, when prices began falling from their highs of $13.
Saturday’s movement saw the 14-day RSI indicator touch its resistance level of 79.11 once more, which was not broken since November.
This chart shows that $11.30 is the likely destination for bulls looking to extend their gains. However, the road to get there will be bumpy.
The prices are too high and could reverse despite bullish sentiment in the previous sessions.
Convex Finance (CVX).
CVX’s price surge on Saturday has pushed it to its highest point for over three weeks. The token is now trading more that 35% higher than the previous week.
After a low of $23.12 24 hours ago, CVX/USD rose to a peak today at $27.39.
CVX’s price has risen 11 times in the 13 most recent trading days. This is a continuation of its run that began at $15.40 support.
This rally in prices has caused market sentiment to hover in overbought territory. The RSI is tracking at historic highs.
The chart shows that the price strength is at 72.04 which is much higher than the 54.25 peak.
CVX is trading at resistance at $27.90 despite the rally. This could be an indication that bears are trying to lower prices.