Biggest Movers: WAVES up 50% on Tuesday, as RUNE and LUNA Move Higher
WAVES was undoubtedly Tuesday’s biggest gainer, climbing by as much as 50% during the session. Gains in WAVES came as well, as LUNA once again overtook SOL as the world’s eighth-largest cryptocurrency. RUNE was also a big mover today. WAVES
WAVES was easily the biggest gainer during Tuesday’s trading session, as it rose to a new all-time high.
This was the second consecutive session in which WAVES rallied, further cementing itself as the world’s 32nd largest crypto.
Today’s peak saw WAVES/USD surge to an all-time high of $53.81, following a low around $31.9 in Monday’s session. WAVES/USD – Daily Chart
Looking at the chart, these recent highs have come as prices moved beyond recent resistance of $33.71, which was in place for roughly ten days.
Another ceiling which was broken was that of the 14-day RSI, where price strength rose past the resistance of 80.75, and now tracks at 89.38.
It is clear that prices are currently overbought, however, while tracking at these levels in the past, we still saw further highs.
This will likely create uncertainty for those looking to take positions going forward.
Thorchain (RUNE)
RUNE rose on Tuesday, following two days of declines, with prices gaining by as much as 20% during the session.
Following a low of $10.00 to begin the week, RUNE/USD climbed to a peak of $12.82 today, breaking out of its $11.09 resistance in the process.
Tuesday’s move has now pushed RUNE to its highest level since November 26, as bulls continue to target the all-time high. RUNE/USD – Daily Chart
This would be the $17.86 point, which was established in early November, and looks to be the price in which bulls are trying to recapture.
As of writing this, RUNE is up by 20.58%, with the 14-day RSI hovering around its ceiling of 80, which is within the overbought zone.
Although momentum could continue upwards, there are several signs that a reversal could be on the cards. Tags in this story Analysis, LUNA, RUNE, WAVES
Can RUNE hit a new record high in April? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Hits $48,000 as ETH Nears January High of $3,500 MARKET UPDATES | 9 hours ago Biggest Movers: SOL Moves Past LUNA, as EOS and FIL Lead Monday"s Gainers MARKET UPDATES | 1 day ago
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