Skip to main content

Biggest Movers: CVX Nearly 14% Higher, as RUNE Extends Friday’s Gains 

CVX was trading nearly 14% higher to start the weekend, as RUNE extended yesterday’s gains, climbing by over 13% on Saturday. CVX is now up by nearly 35% this week, rising to multi-week highs in the process.

Thorchain (RUNE)

RUNE was one of the biggest gainers in crypto markets for a second consecutive session, as it further cemented itself as the world’s 45th-largest cryptocurrency by market cap.

Following a high of $9.52 on Friday, RUNE/USD rallied to a greater high of $10.26 to kick off the weekend’s session.

Today’s peak is the highest level RUNE had traded at since December 3, when prices were falling from highs around $13.

Saturday’s move saw the 14-day RSI indicator once again touch its resistance point of 79.11, which hasn’t been broken since November.

Looking at this chart, $11.30 is the next likely destination for bulls attempting to extend recent gains, however the road to this point will likely be turbulent.

Prices are overbought, and a reversal could be on the cards, despite the bullish sentiment of the last two sessions.

Convex Finance (CVX)

Saturday’s price surge has sent CVX to its highest point in over three weeks, with the token now trading more than 35% higher in the last week.

Following a low of $23.12 less than 24 hours ago, CVX/USD climbed to a peak of $27.39 during today’s session.

The price of CVX has now risen for 11 out of the last 13 trading days, a run which started at its support of $15.40.

As a result of this rally in prices, market sentiment is currently hovering in overbought territory, with the RSI tracking at historical highs.

Looking at the chart, the price strength is tracking at 72.04, which is well above the previous high of 54.25.

Despite the rally, CVX is now trading around resistance at $27.90, which may be a sign for bears to bring prices lower.

Could we see this price ceiling broken this weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/7wf3KPS
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more