Monero continued to climb during Monday’s session, as the token surged to its highest point since February. The move comes as the global crypto market cap was marginally higher on the first working day of June. Cosmos also extended recent gains, hitting a one-month high in the process.
XMR Races to 5-Month High, as ATOM Extends Recent Gains
Monero (XMR) was one of Monday’s notable gainer’s, as the cryptocurrency climbed to a five-month high.
XMR/USD hit an intraday peak of $172.11, which comes a day after trading at a bottom of $163.37.
As a result of the rally, monero peaked at its strongest point since February 4 last year, when price reached a top at $174.95.
Overall, XMR has now traded in the green for sixteen of the last nineteen sessions, climbing by over $40.00 in that time.
Earlier gains have now eased, as bulls failed to sustain the breakout ceiling at the $172.00 level, with price now trading at $170.73.
One of the reasons for this was the relative strength index (RSI), which has hit a resistance of its own at 73.00.
Another notable gainer on Monday was cosmos (ATOM), which climbed to a four-week high to start the week.
Following a low of $9.40 on Sunday, ATOM/USD raced to a high at $9.93 earlier in today’s session.
The move saw cosmos climb to its highest level since June 7, which is the last time it was above $10.00.
Looking at the chart, this level also appears to be a resistance level, with bulls so far struggling to break this zone.
This will likely occur once price strength, which is currently tracking at 59.33, moves past a ceiling at 60.00.
Should this take place, the next target for ATOM bulls could possibly be a higher ceiling at $11.00.