• Solana (SOL) rebounded from losses to start the week, despite U.S. inflation figures missing expectations.
• Tron (TRX) rose for a fifth straight session, breaking out of a recent ceiling in the process.
• Both tokens have seen bullish sentiment in recent weeks, with moving averages trending upwards.
Biggest Movers: SOL Rebounds
Solana (SOL) was one of Tuesday’s notable movers, as the token rebounded from losses to start the week despite U.S. inflation figures missing expectations and coming in at 6.4%. SOL/USD surged to an intraday high of $21.70 earlier in today’s session and reentered its $20 price floor after a failed breakout attempt to start the week. The relative strength index (RSI) maintained a floor at 42 and is currently tracking at 47.46 with 50 as the next visible resistance point.
TRX Up For Fifth Straight Session
Tron (TRX) rose for a fifth consecutive session on Tuesday, breaking out of a recent ceiling in the process. Following a low of $0.06414 to start the week, TRX/USD raced to an intraday high of $0.06638 earlier in the day pushing it to its highest point since last Thursday after prices broke out of a ceiling at $0.06565 . Overall sentiment has largely been bullish in recent weeks with moving averages trending upwards supported by RSI which is currently tracking at 61 and edging close to 63 as next resistence point .
Recent Momentum
Recent momentum for Solana has been largely bearish coming following downwards crossover of 10-day (red), and 25-day (blue) moving averages however bulls have moved forward halting any further sell-offs . For Tron , overall sentiment has largely been bullish in recent weeks with moving averages trending upwards supported by RSI which is currently tracking at 61 and edging close to 63 as next resistence point .
What Will The Federal Reserve Do?
The Federal Reserve will likely take action due to consumer prices coming higher than expected at 6%, instead of the anticipated 6%. This could mean that more stimulus packages are put into place or interest rates could be adjusted accordingly depending on how inflation progresses going forward..
Conclusion
Overall both Solana and Tron have seen bullish sentiment over past few weeks but there may be some volatility ahead depending on what measures are taken by central banks due to rising inflation ..