Anchor (ANC) was down, however, after rising by nearly 50% over the same time period.
Biggest Gainer
Terra(LUNA) has been a standout performer in cryptocurrency markets these past weeks, despite increasing market volatility.
Monday’s rally of LUNA/USD saw prices rise to their highest levels in six weeks. Prices also reached the $84.70 long-term resistance level.
This surge occurs as the 14-day RSI reaches a major hurdle, reaching resistance level 71. It hasn’t been broken since December.
LUNA has risen to $84.84 intraday, less than 24 hours after trading at a low $70.57
This move is despite two factors that could hinder any short-term gains. The current resistance level and price strength are currently too high.
If these two obstacles are overcome, traders could be aiming for $100 for LUNA this week
Biggest Loser
Although cryptocurrency markets were up 3% to begin the week, anchor was one token that fell lower on Monday.
ANC/USD dropped to $3.47 as of Monday’s writing. This was after a second consecutive day under bearish pressure.
This pressure began when ANC reached its resistance point at $3.75. It has been in effect since December 28.
Bears saw the failure to break through this ceiling as weakness and began to pile in to push prices down.
The 14-day RSI currently tracks above 73. This indicates that price strength has overbought. This was a welcome sign to those who are shorting.
Today’s pullback could be seen as a warning to LUNA pulls who are in a similar position.
