Tron was a big mover on Thursday, as recent reports suggest that the blockchain platform has been processing an average of 4.8 million daily transactions. The token has now surged higher for three consecutive sessions, and looks set to collide with a key resistance level. Solana was also in the green today.
Tron (TRX)
Tron (TRX) rose to a multi-week high on Thursday, on the back of reports claiming that the blockchain sees nearly 5 million daily transactions.
TRX/USD peaked at $0.08322 earlier in the day, which comes following a low of $0.08043 the day before.
As a result of today’s gains, tron has now risen to its highest point since July 30, when price traded at a high of $0.08395.
From the chart, it appears that bulls are attempting to reach a ceiling at $0.08600, however a hurdle on the relative strength index (RSI) seems to be preventing this.
Price strength is currently tracking at 67.89, which is marginally below a ceiling at the 68.00 level.
In order for bulls to capture their price target, this aforementioned resistance point will need to be broken.
Solana (SOL)
Solana (SOL) rose for a third consecutive day on Thursday, as price moved closer to the coveted $20.00 mark.
SOL/USD surged by as much as 5% in today’s session, hitting an intraday peak of $19.27 in the process.
This move comes a day after the world’s ninth largest cryptocurrency traded at a bottom of $17.96.
Earlier gains in price have started to ease in the last few hours, after the RSI closed in on a ceiling of 43.00.
At the time of writing, it is at a reading of 41.05, with the token marginally below today’s high, sitting at $18.84.
Although $20.00 is still clearly the short-term target, it will likely take a significant amount of bullish momentum to get there.
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