Biggest Movers: WAVES up Over 120% in the Last Week, XLM Moves Towards 3-Week High
WAVES was once again higher on Friday, with prices now gaining by over 120% in the last seven days. While WAVES soared, XLM also had a stellar showing, as it moved closer to a three-week high on Friday. WAVES
While crypto markets have been either falling or consolidating over the past week, WAVES has continued to surge, climbing by over 120% in that time.
On Friday, prices rose for a seventh consecutive session, hitting an intraday peak of $10.47 in the process.
This move comes as prices marginally passed resistance at $10.45, nearing their highest level since May 11 as a result. WAVES/USD – Daily Chart
Looking at the chart, the 14-day RSI also broke out of its own ceiling, as it moved past the 43 level earlier in the day.
As a result of this rise in momentum, the moving averages of 10 and 25 days now look set for an upwards cross, which could see prices climb even further.
As of writing, gains in WAVES have somewhat eased since hitting earlier resistance, and the asset is currently trading at $10.08, which is still 5.32% higher than yesterday’s top.
Stellar (XLM)
XLM was also trading higher on Friday, as prices moved closer to a multi-week peak heading into the weekend.
Following a low of $0.1378 on Thursday, XLM/USD rose to an intraday high of $0.1504 earlier in today’s session.
This climb has pushed prices closer to Tuesday’s peak of $0.1537, which is the most XLM has traded at since May 8. XLM/USD – Daily Chart
Friday’s gain has also come just as the 10-day and 25-day moving averages have crossed upwards, which is something that hasn’t happened since March 17.
On that occasion prices went on to reach a peak of $0.2414, however all went downhill from there, as crypto prices seemingly crashed, as with most other major markets.
Since hitting earlier highs, which were also at a point of resistance, XLM has dropped, likely due to bulls securing previous gains.
Traders will now wait to see if a breakout could occur, and if so, where prices may be headed to next. Tags in this story Analysis, Price, Stellar XLM, WAVES
Will today’s resistance level on XLM hold during this weekend? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Gains Prior to NFP Report, Following a Cross of Moving Averages MARKET UPDATES | 12 hours ago Biggest Movers: ATOM Falls Towards Multi-Week Low, as GRT Extends Recent Losses MARKET UPDATES | 1 day ago
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