WAVES, NEAR Hit Multi-Week Lows on Saturday – Market Updates Bitcoin News

NEAR dropped to its lowest point in a month to begin the weekend as markets moved lower than their long-term support level. WAVES was also lower during Saturday’s session, falling by as much as 14%. As of this writing, the crypto market is down almost 5%.

Near Protocol (NEAR).

NEAR was one notable mover to begin the weekend with prices falling by more than 10% on Saturday.

Following a peak of $5.03 on Friday, NEAR/USD has so far slipped to an intraday low of $4.38 in today’s session

The drop in prices was nearly 13% and occurs as crypto markets worldwide are down 4.8% at the time of this writing.

Saturday’s decline came as NEAR broke out of its support point at $4.45, on its way to its lowest point since May 11.

The 14-day RSI, now firmly oversold at $30.62 is also trading. It acts as a floor and a 2-week low.

If this floor is broken, we might see NEARly move below the $3.57 one-month low and instead reach an 11-month top.

WAVER

WAVES also fell by double figures on Saturday as it reached a new low for its tenth consecutive session.

As of writing, WAVES/USD hit an intraday low of $6.30 to start the weekend, which is $1.17 below yesterday’s high.

Looking at the chart, today’s move has pushed WAVES closer to its long-term support of $4.40, which is a level that hasn’t been hit since May 30.

Prices are currently down more than 15% and trading at their lowest level in nearly two weeks.

Despite the fact that the RSI has been declining due to the selling, it still holds steady at 36.50.

However, relative strength continues to move towards that level and, if it lands there, WAVES will likely also hit $4.40.

Are you sure that the WAVES are going to continue falling as this weekend progresses? We’d love to hear your opinions in the comments.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, educator in retail trading, and commentator in Crypto, Stocks, and FX.