Biggest Movers: NEXO up Nearly 50% After Binance Listing, While TRON Climbs to 1-Week High

NEXO was up by nearly 50% on Friday, as markets reacted to the news that Binance was listing the token on its platform. Today’s surge sent NEXO to a multi-week high, while TRON also moved higher, hitting a one week peak.

NEXO

Two weeks after announcing a partnership with Mastercard to launch the world’s first “crypto-backed” payment card, NEXO today achieved another milestone.

Binance confirmed that it will be adding the token to its platform, and this news was well received by markets.

NEXO/USD rose by nearly 50% during today’s session, hitting an intraday high of $3.66 in the process.

Friday’s surge comes less than 24-hours after prices were trading at $2.14, and as of writing are tracking at a record high.

This recent peak comes following a three day rally which began at support of $2.10, with two long-term resistance levels broken as a result of the bullish ascent.

The price of NEXO, which launched in December last year is now overbought, with the RSI tracking at 71.94, which is a record. Many will anticipate a reversal in upcoming sessions as a result.

TRON

TRON was also higher during today’s session, rising to a one week high, following three consecutive days of rallies.

As of writing this, TRX/USD hit a peak of $0.06967 on Friday, which is its highest level since April 22.

This one week high sees TRX break past its long-term resistance level of $0.06800, with some now targeting a higher ceiling of $0.07600.

Looking at the chart, a upwards crossover of the 10-day and 25-day moving averages has occurred, which typically signals a bullish trend.

However, for this trend to remain on course we will likely need to see a breakout of the current ceiling on the 14-day RSI.

This resistance is at 54, with relative strength currently tracking at 53.05, however should this hurdle be overcome, we will likely see an influx of TRX bulls.