To begin the weekend, CVX was about 14% higher, while RUNE extended its gains from the previous day, gaining over 13% on Saturday. CVX has gained about 35% this week, reaching multi-week highs in the process.
Thorchain is a fictional character that appears in the (RUNE)
RUNE was one among the top gainers in crypto markets for the second straight session, cementing its position as the world’s 45th-largest cryptocurrency by market capitalization.
RUNE/USD rose to a higher high of $10.26 to start the weekend session after hitting a high of $9.52 on Friday.
RUNE has traded at its highest level since December 3, when prices were sliding from highs over $13.
The 14-day RSI indicator touched its resistance point of 79.11 on Saturday, which hasn’t been broken since November.
Looking at this chart, $11.30 appears to be the next plausible target for bulls looking to extend current gains, but the journey there will most likely be bumpy.
Despite the strong optimism of the last two sessions, prices are overbought, and a reversal could be on the cards.
Finance with a Convexity (CVX)
CVX has reached its highest point in over three weeks as a result of Saturday’s price rise, with the token now trading more than 35 percent higher in the last week.
CVX/USD soared to a high of $27.39 during today’s session after hitting a low of $23.12 less than 24 hours earlier.
CVX has now climbed for 11 of the last 13 trading days, a run that began at its $15.40 support level.
Market sentiment is currently lingering in overbought area as a result of this price surge, with the RSI tracking at historical highs.
The price strength is tracking at 72.04, which is significantly above the previous high of 54.25, as shown on the chart.
Despite the rebound, CVX is currently trading around resistance at $27.90, which could signal that bears are preparing to push prices lower.