After a win streak that lasted a whole week, ANC fell Sunday. Crypto bears entered the fray. WAVES has climbed to close to 60% over the past week, despite this.
Anchor protocol (ANC).
The market saw a drop of over 20% on Sunday after a series of new record highs between Wednesday and Saturday. This was the result as bears finally re-entered.
This momentum was halting Anchor Protocol, which had been trading higher for five sessions consecutively.
ANC/USD fell to an intraday low of $4.55 during today’s session, following an earlier high of $5.95 to start the day.
This drop now means that the all-time high in ANC’s price is $6.18, and comes after upward price momentum seemingly ran out of steam.
For a significant portion of the run, prices were too high. Many saw it as inevitable that there would be a fall.
After climbing as high as 86 this week, the 14-day RSI is now below 63.
WAVER
WAVES continued to cement its position as the #48 ranked cryptocurrency currently in circulation, after rebounding from Yesterday’s fall.
Today’s move in WAVES/USD comes as prices bounced higher, and are now marginally below resistance at $19.50.
WAVES rallied after hitting a low at $16.82 Saturday. It reached an intraday high of $19.16 on Monday, just $2 shy of its highest point since December 5.
WAVES rose 5.23% to the point of writing. The 14-day RSI remained in excess.
Current price strength stands at 72.4 and it looks like it is trying to capture the 76.9 resistance.
As we have seen with ANC, if markets become too overbought, bears can also attack.
Do you think this is a time when it’s advisable to cut WAVES? Is it possible for the price to continue rising? Please share your views with us in the comments.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.