IOTX was Friday’s big gainer, as crypto markets were lower across the board to end the week. Overall, the global cryptocurrency market cap is down close to 4% in today’s session.
Largest gainers
After a strong week that saw the price of cryptocurrency rise by more than 50% in the shiba Inu (SHIB) and the leo tokens (LEO), we entered the weekend with lower prices.
While the vast majority of the 100 largest markets in the world were in the red this year, there were some exceptions.
IOTX/USD traded at an intraday low of $0.1029 Thursday and climbed to an intraday peak of $0.1205 today.
Today’s move came after two consecutive sessions of declines, which took prices to support of $0.1234, where bulls seemed to have bought the dip.
The rally of support resulted in the 10-day (red), 25-day, and blue moving averages extending their upward crossing, marking the first such crossover since November early.
The price strength dropped from its peak point in November to track at 57.7 now, following a floor of 54.
IOTX bulls expect that prices will surpass their resistance level of $0.1747 during the upcoming sessions.
Biggest losers
There were many bears in today’s session, however the standout was Kadena, which is down around 10% as of writing.
KDA lost $8.22 to close the intraday, having traded at $9.25 less in 24 hours.
Friday’s sell off sees KDA/USD fall for a second consecutive session, after failing to break out of its resistance at $10.43.
Today’s move has pushed prices to an interim floor of $7.98, which many see as a stop-gap as it heads to its real support of $5.13.
Even though the market sentiment is bearish around KDA, it appears that moving averages and in particular the 10-day (red), are still pushing upward despite this.
Is there a chance that we will see the bullish momentum returning this weekend? We’d love to hear your comments.
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