Fun

Biggest Movers: LUNA Climbs 1,500% Following Do Kwon Tweets, While AVAX and NEAR Fall on Saturday

News Feed - 2022-05-15 01:05:17

Biggest Movers: LUNA Climbs 1,500% Following Do Kwon Tweets, While AVAX and NEAR Fall on Saturday


Following tweets from Terra founder Do Kwon, LUNA surged by over 1,500% on Saturday. However, with several exchanges halting deposits, only those who entered at the very bottom have seen these gains. This comes as AVAX and NEAR both fell by over 20%. Avalanche (AVAX)


Although LUNA was undoubtedly today’s biggest gainer, recent volatility and price action makes it almost impossible to truly analyze.


However, another relative big mover in today’s session was AVAX, which fell by as much as 20%.


AVAX/USD slipped to an intraday low of $29.55, which as of writing, is 20.83% lower than Friday’s peak of $37.72. AVAX/USD – Daily Chart


Since breaking out of its long-term support level of $65.60 only ten days ago, AVAX has dropped for eight of those sessions, to now trading at a new floor.


This new support looks to be the $28.80 level, which is marginally above a nine-month low in prices.


Despite this recent decline in value, bulls are optimistic about a recovery, as the RSI hovers in oversold territory, which has led some to believe that price strength can only go up from here.


Near Protocol (NEAR)


SOL was also down close to 20% on Saturday, however the drop in NEAR sent prices closer to a nine-month low of its own.


Following a high of $7.58 on Friday, NEAR/USD sank to an intraday bottom of $5.98, which is over 21% lower than yesterday’s price.


NEAR has broken out of two key support levels in the last ten days —first, that of the $12.60 point, and more recently the $9.90 level. NEAR/USD – Daily Chart


As a result of these drops, it has been a struggle for traders to find a new floor, however this seems to have come at $6.00.


Despite prices falling to $3.57 earlier this week, which is the lowest level since last August, we have seen a slight recovery, as AVAX consolidates at the new support point.


The RSI is also tracking in oversold territory, and as of writing is at 25.76, which is its weakest point since September 2020, when the first AVAX token was issued. Tags in this story Analysis, AVAX, LUNA, NEAR, SOL


Is this an ideal time for bulls to re-enter the market? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a eclectic 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: ETH Back Below $2,000, BTC Down 6% to Start the Weekend MARKET UPDATES | 9 hours ago Biggest Movers: SHIB, DOT Nearly 30% Higher, as SOL Also Surges MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleReport: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout Next articleGermany Declares Crypto Gains Tax-Free After 1 Year — Even if Used for Staking, Lending Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

Ethereum Macro Trend Oscillator Shows Green Might Be On The Horizon
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Women’s influence across Web3 and tech positions
Tobias Vilkenson9 hours agoWomen’s influence across Web3 and tech positionsExplore the influential role of women in Web3 and technology, from leadership positions to pioneering innovations.171 Total views6 Total shares
A Step-by-Step Guide on How to Access Your ETHW Tokens if You Held ETH Before The Merge
A Step-by-Step Guide on How to Access Your ETHW Tokens if You Held ETH Before The Merge With the new Ethereumpow (ETHW) network launch, ethereum holders are eligible to receive a s
Hoo AMM Pool Launched, New Access to Increase User Yields
Hoo AMM Pool Launched, New Access to Increase User Yields press release PRESS RELEASE. According to Hoo users who participated in AMM (Automated Market Maker) test, each liquidity p
Crypto Biz: Consolidation ramps up among crypto firms
Ana Paula Pereira4 hours agoCrypto Biz: Consolidation ramps up among crypto firmsThis week’s Crypto Biz examines recent acquisitions in the crypto industry, Tether’s plans for a dirham stablecoin, and Polychain’s i
Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector
Moody"s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banki
Galileo Exchange Launches Its Native Token, the “GELT”
Galileo Exchange Launches Its Native Token, the “GELT” sponsored Galileo Exchange is a groundbreaking hybrid of a Crypto exchange, a Blockchain project, and the innovation of ac
Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm’s Institutional Arm Swells
Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm"s Institutional Arm Swells On Wednesday, as the leading crypto asset bitcoin has been rid
These Are the Most Profitable Proof-of-Work Algorithms Since Ethereum Moved to Proof-of-Stake
These Are the Most Profitable Proof-of-Work Algorithms Since Ethereum Moved to Proof-of-Stake Since the transition from proof-of-work (PoW) to proof-of-stake (PoS), ethereum cannot
XRP Price To Hit $45? Here’s What Happens If It Mimics 2017 And 2021 Rallies
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Bottom In Sight As Trump Expected To Soften Stance On Reciprocal Tariffs: Report
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Gate.io to wind down services for customers in Japan
Martin Young3 hours agoGate.io to wind down services for customers in JapanThe crypto exchange blamed regulatory pressures and “compliance requests” from local financial regulators as the reason it terminated its ser