AVAX, NEAR and WAVES were undoubtedly some of the biggest gainers on Tuesday, as crypto markets were over 14% higher as of writing. LUNA was also higher, and climbed by as much as 22% in today’s market session.
WAVES
WAVES was easily the biggest gainer during Tuesday’s trading session, as it rose by as much as 46% on the day.
Today’s rally in WAVES/USD saw prices climb to their highest level since December 17, hitting the long-term resistance point of $19.60 in the process.
This surge comes as the ceiling of $12.60 was broken during yesterday’s session, with gains extending throughout the course of today.
As of writing this, WAVES rose to an intraday high of $19.67, which comes less than 24-hours after trading at a low of $12.63.
Looking at the chart, you can see that profit-takers immediately began closing their positions once WAVES had reached resistance.
Price strength has also climbed by its most on record, with the 14-day RSI currently tracking above 75.
NEAR Protocol (NEAR)
Although AVAX was up by as much as 20% on Tuesday, gains in the cryptocurrency faded as bullish pressure slightly subsided.
However, NEAR, which was trading above 20% earlier today, continued to do so as of writing this, as Tuesday’s session matured.
As of writing, NEAR/USD rose to a high of $11.53 today, following an intraday low of $9.10 to start the week.
This bullish pressure has seen NEAR rise for two consecutive sessions, moving away from its support point of $8.11.
Last week saw prices trade at their lowest level since December 5, however, following a break from the 50 level on the 14-day RSI, bulls appear to have returned.
WAVES now looks as though it is heading for the $12 resistance level, if it does hit this, bears, or profit takers could see this as an opportune time to liquidate.
Is WAVES a potential top 30 cryptocurrency? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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.
Source: https://news.bitcoin.com/technical-analysis-avax-waves-and-near-trade-over-20-higher-on-tuesday/