Skip to main content

Biggest Movers: WAVES Falls to 1-Month Low, BCH Over 10% Higher on Wednesday

WAVES fell to a one-month low during Wednesday’s trading session, as prices dropped for a second consecutive session. This came as BCH rallied by over 10% on hump-day, hitting a five-day high in the process. Overall, the crypto market cap is 1.17% higher as of writing.

Bitcoin Cash (BCH)

As crypto prices slowly began to rise on Wednesday, BCH was easily one of the day’s biggest gainers.

Following a low of $295.20 on Tuesday, BCH/USD rose to an intraday high of $332.87 during today’s session.

This is the highest level BCH has traded at within the last week, and comes despite its value trading over 4% lower within the same period.

Recent momentum in the market has seen prices decline, with BCH trading lower for the last seven out of ten sessions.

However, following two consecutive days of gains, BCH is now trading at resistance of $335, with the RSI also hovering below its own ceiling.

This level would be the 50.4 point, which has historically been an area of uncertainty, and birthed several bearish runs.

Despite this, bulls could be looking to breach this ceiling, and target the $360 area.

WAVES

WAVES fell by as much as 11% during today’s session, however losses somewhat eased as bulls returned to crypto markets this afternoon.

Following a run which has seen it drop for ten of the last twelve sessions, WAVES has now fallen to its lowest level since March.

As of writing, WAVES/USD hit an intraday low of $20.48, which is its lowest point since March 7, and comes as its recent floor was also broken.

This support point is the $25.10 level, and with recent momentum still bearish, some expect WAVES to fall to a lower floor of $16.50.

The price of WAVES is also currently oversold according to the RSI indicator, and is trading at its own support of 33.80, which is the lowest it has tracked since early February.

However, should this floor break, then we will likely see all of the gains from March wiped out in the space of two to three weeks.

What do you believe is behind the recent drop in WAVES? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/cmN8AFy
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more