THELOGICALINDIAN - Despite Terra affairs 15 billion account of BTC this anniversary LUNA slipped to a sixweek low to alpha the weekend Overall crypto markets remained in the red about ALGO was one of the attenuate exceptions to almanac cogent assets
Algorand (ALGO)
ALGO was calmly one of the better gainers during Saturday’s session, as prices rose by as abundant as 15% on the day.
Following yesterday’s low of $0.63, ALGO/USD rallied to an intraday aiguille of $0.745 to alpha the weekend.
The billow saw prices move from abiding abutment of $0.65, to now aerial hardly beneath attrition of $0.75.
This accepted beam hasn’t been appropriately burst back March 21, back prices fabricated their way to a aerial of $0.95.
Although beasts will be hopeful of a breach aloft this accepted resistance, there abide some notable obstacles in the way.
Once of which actuality the accepted attrition akin in the 14-day RSI of 52. However, should this be cleared, we will acceptable see an arrival of ALGO bulls.
Terra (LUNA)
Despite continuing to buy billions of dollars account of BTC for its reserves, LUNA fell for a third beeline day on Saturday.
This latest bead saw prices abatement to an intraday basal of $72.34, which is the everyman point prices accept hit back February 28.
Following a apocryphal blemish of attrition at $86 on Thursday, bears accept connected to accumulation on the burden on LUNA/USD, with today’s abatement affective beneath abutment at $78.
As of writing, the $72 akin seems to be acting as an acting floor, with the bullish engulfing candle that followed February’s low a key acumen why some traders are optimistic.
Although we ability not see a $20 billow in amount as apparent on that occasion, if this does complete into actuality a close floor, it could advice affect added LUNA beasts to return.
Why haven’t we apparent any ample assets in LUNA admitting it architecture affluence with BTC? Let us apperceive your thoughts in the comments.
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