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[Yesterday's biggest driving factor: XMR soared to a 5-month high, ATOM continued to rise]
Monero continued to climb during Monday's trading session, surging to its highest level since February. The move comes as global cryptocurrency market capitalization edged higher on the first working day of June. Cosmos also extended its recent gains, hitting a one-month high in the process.
【Monero ( XMR ) 】
Monero (XMR) was one of the biggest gainers on Monday, with the cryptocurrency climbing to a five-month high.
XMR/USD hit an intraday peak of $172.11 a day after bottoming out at $163.37.
As a result of this uptick, Monero reached its highest point since February 4 last year, when the price peaked at $174.95.
Overall, XMR is currently on the upside in 16 of the past 19 sessions, rising over $40.00 during that time.
The previous gains have now slowed down as the bulls failed to sustain the break above the $172.00 ceiling, currently trading at $170.73.
One of the reasons for this is the Relative Strength Index (RSI), which has hit resistance at 73.00.
【(Astro Boy) Cosmos (atom) ATOM】
Another notable gainer on Monday was Cosmos (ATOM ), which climbed to a four-week high earlier this week.
After hitting a low of $9.40 on Sunday, ATOM/USD rose to a high of $9.93 earlier today.
The move lifted Cosmos to its highest level since June 7, the last time it was above $10.00.
Looking at the chart, this level also appears to be a resistance, and so far, the bulls are struggling to break out of this area.
This could happen once the price strengthens (currently at 59.33) above the 60.00 upper bound.
If this happens, the higher upper limit of $11.00 could be the next target for ATOM bulls.