WAVES rose to the top of the weekend after recent price declines. Crypto markets also moved slightly higher. EOS and GMT were the main contributors to these gains, both rising by more than 6%.
EOS rose again for the second straight session, and prices rose to their highest levels in more than ten days.
After trading at a low of $2.34 on Friday, EOS/USD raced to an intraday peak of $2.52 during Saturday’s session.
This marks the highest EOS hit date since April 7th, and it comes just after the prices have moved from the weekly long-term support level.
The chart shows that this floor was located at $2.20. This occurred after two weeks of declining prices, which began at $3.17.
The price strength of the market has risen since this fall, when it also reached a multimonth low of 36.34 on the 14-day RSI. It now lies below a 52-month ceiling.
Bulls may look to move price higher towards $2.65 if this resistance is breached.
WAVES
WAVES also rose on Saturday as traders seem to finally have found a floor after a bearish run.
EOS is similar to WAVES, where prices have struggled with a red wave starting March 29th. This was when the bear market in crypto currencies began.
Waves dropped to $20 on Thursday in this run, its lowest point for over five weeks. This is an area bulls often return to.
As of writing, WAVE/USD has risen to a high of $22.89 in today’s session, after beginning the day tracking closer to the $20.57 level.
The 14-day RSI shows us price strength as it is sitting at the floor at 35.70.
The RSI is at its lowest level since February. Bulls might see this as an opportunity for them to purchase recent dips, despite the fact that prices are unquestionably oversold.
Are the $20 levels in WAVES really the price floor? Or could this support be broken? We would love to hear your comments.
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