WAVES prices rose by more than 120% over the past seven days, and they were once again higher Friday. WAVES rose, but XLM had a great showing on Friday, moving closer to a 3-week high.
WAVES
WAVES, a cryptocurrency exchange, has seen a steady rise in its value, increasing by 120% over the week. Crypto markets are either consolidating or declining over this past week.
Prices rose Friday for the seventh session in a row, reaching an intraday high of $10.47
This is a move that comes just as the prices have marginally passed resistance of $10.45 and are nearing their highest levels since May 11.
As you can see, the 14 day RSI moved beyond the 43 mark earlier in the morning.
The momentum has increased and the moving averages for 10 days and 25 days look more upwards. This could lead to prices rising 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 also traded higher Friday as the prices approached a multiweek high heading into 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.
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.
The price of crypto reached $0.241414 peak at this time. However, it all fell apart from that point, with the prices plummeting like in most major markets.
XLM fell after reaching earlier highs which also ranked at a level of resistance. This is likely because bulls have made previous gains.
Now traders will wait and see whether a breakout occurs, and, if so where the prices might be heading next.
Will today’s resistance level on XLM hold during this weekend? Please share your views with us in the comments.
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