Biggest Movers: Apecoin up Nearly 100% on Second Day of Trading, AAVE, HNT Also Move Higher
On its second day of buying and selling, APE rose by almost 100% and is up over 1,200% within the final two periods. Although beneficial properties have been considerably extra muted, AAVE and HNT additionally climbed larger to finish the week.
Although APE was undoubtedly immediately’s greatest mover, there isn’t a lot to debate in the best way of technical evaluation, on account of it solely being in circulation for less-than 48-hours.
As such, AAVE takes this honor by default, as its worth climbed by over 10% throughout immediately’s buying and selling session.
Following a low of $142.83 on Thursday, AAVE/USD rose to an intraday excessive of $159.78, which is its highest degree since February 17.
This excessive got here as costs broke out of the latest resistance degree of $149.00, following 5 consecutive days of beneficial properties.
As a results of this streak, the 14-day RSI has risen to a excessive of 65 for the primary time since December, which means that AAVE is now overbought.
Should this momentum proceed regardless of its present place, we may see costs focusing on the $192 degree subsequent.
Despite buying and selling inside a long-term descending triangle, HNT has now risen for 5 consecutive periods, and is up almost 6% immediately.
As of scripting this, HNT/USD rallied to an intraday peak of $24.22, following a low of $19.02 to start the week.
This comes as trades moved the worth away from assist of $20 on Monday, to now buying and selling at a 17-day excessive.
As a results of these beneficial properties, worth power has climbed to its highest degree since early February, with the RSI now hitting a excessive of 54.74.
Looking on the chart, we’re additionally near the worth ceiling of $24.94, nonetheless, if we break past this degree, some bulls may start focusing on $30.
Are costs of HNT too overbought to maintain additional beneficial properties? Let us know your ideas within the feedback.