Technical Analysis: ANC Captures Friday’s Largest Gains, as WAVES up Nearly 100% within the Last Week
Anchor protocol and WAVES have been a few of Friday’s largest gainers, as crypto markets primarily traded decrease on the finish of the week. At the time of writing, the worldwide cryptocurrency market cap has dropped over 4%, with GALA and MKR, the day’s largest decliners.
WAVES prolonged its current streak on Friday, because the world’s forty seventh largest cryptocurrency rose for a sixth consecutive session.
Today’s rally in WAVES/USD got here as costs rose to their highest degree since December 17, breaking past resistance of $19.72.
The value of WAVES rose to an intraday excessive of $20.87 on Friday, following a low of $17.95 lower than 24-hours in the past.
As of scripting this, WAVES traded 4.07% increased, because the 14-day RSI rose to its highest degree since January 31.
This rise in value power has additionally seen the RSI transfer to its highest level since final August, when it traded above the 80 degree.
This could also be unhealthy information for bulls, nonetheless, as with costs now clearly overbought, while buying and selling at resistance, bears are more likely to be close by.
Anchor protocol (ANC)
Friday’s largest gainer within the crypto prime 100 was undoubtedly anchor protocol (ANC), which rose to a brand new all-time excessive, following current good points.
Anchor protocol was up for a fourth successive session, following its breakout from the long-term resistance level of $4.05.
This newest transfer occurred when the 14-day RSI failed to interrupt its flooring of 69, and as an alternative rose to a now document degree of 83.
As of writing, ANC/USD is up virtually 24%, hitting an intraday excessive of $5.53 within the means of in the present day’s good points.
Overall, ANC is up over 55% within the final seven days, and may this bullish strain proceed, we may very well be set for extra document highs this weekend.
With costs being overbought, is that this the proper time to promote ANC? Let us know your ideas within the feedback.