The rise in the largest cryptocurrencies such as Bitcoin and Ethereum is pushing other altcoins into the bullish zone. Being an advanced technological capability, the blockchain platform – Radix, is attracting the attention of investors due to its bullish pattern.
Radix’s native token, XRD, is up 277% from its all-time low of $0.03154, according to data from Coinmarketcap. Amazingly, investors have experienced gains of over 200% since March 28.
The extremely bullish rally started after the latest development on Radix. The launch of Babylon RCNet, Radix’s latest milestone release, catapulted XRD into the limelight and investors considered it a horse of momentum.
According to the 2.618 level of the trend-based fib extension, the XRD token is resting near the $0.122 to $0.1260 bullish hurdle area after registering a 160% gain in April. Above this resistance zone, the XRD token could once again resume the bullish trend.
Radix’s (XRD) price is displaying a long-term bullish breakout on the weekly chart. Price action formed a double bottom near the all-time low and broke out from the key resistance of $0.060, followed by a 100% gain until XRD recorded a 52-week high on April 18 at $0.1260.
At the time of writing, the XRD token is trading at the $0.1082 mark, with an overnight gain of 25%. As a result, the market capitalization reached $1.09 billion to date. However, the bulls have dominated the XRD coin for so long and the 121% increase in trading volume is suggesting aggressive buying pressure.
On the daily price chart, XRD coin looks extremely bullish as it remains above the 20-day simple moving average and the SAR indicator. Though the RSI touched the 95 level – a highly overbought zone, which may reflect a further retracement signal, investors may book little profit.
Also read: Crypto Market to Take a Hit Before Big Pumps
