© Reuters.
Sistine Research suggests that cryptocurrencies Monero (XMR), (SOL), and Tron (TRX) could experience significant rallies if they successfully surpass certain resistance levels, according to a report published on Friday. These resistance levels are identified as 0.005757 BTC for XMR, $40 for SOL, and $0.125 for TRX.
However, the research also warns of potential downturns for these digital currencies should they fail to break through these resistance levels. In such a scenario, XMR could see a decrease to 0.005577 BTC, SOL might plummet to $16 unless it reclaims its $25 support level, and TRX might lose its uptrend line support despite having grown over 81% since November 2022.
The futures of these cryptocurrencies are closely linked to due to their high correlations—0.68 for XMR, 0.72 for TRX, and 0.93 for SOL. This suggests that the movements of these digital assets will likely follow the trajectory of Bitcoin.
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