Skip to main content

Biggest Movers: DOGE up on Twitter News, WAVES Deep in the Red

DOGE rallied on Monday, as traders reacted to the news that Elon Musk was possibly nearing a takeover of Twitter. While DOGE surged, AXS and WAVES were also big movers, however they were mainly in the red, as recent losses extended.

Dogecoin (DOGE)

DOGE was trading higher to start the week, as markets reacted to the news that Elon Musk’s bid to acquire Twitter was being considered by the board.

Musk previously stated that he could see DOGE used as a payment or tipping method on the platform, should his attempts to acquire the social media company succeed.

Following the news, DOGE/USD rose to a peak of $0.1412 in today’s session, which is over 5% higher than Sunday’s low of $0.1239.

Monday’s surge in price comes after a false breakout of the $0.1310 support level, which then sent prices to their lowest level since March 22.

Today’s rally, which appears as if it could be a bullish engulfing pattern, put an end to a six day losing streak for DOGE.

In addition to this, momentum seems to also be climbing, with the 14-day RSI rising above the 50 level for the first time in over a week.

Should this trend continue, the next obvious target will be the long-term resistance point of $0.1500.

WAVES

WAVES, on the other hand, was predominantly in the red today, as it extended a recent losing streak that has sent prices down to multi-week lows.

Since peaking above $64 to start the month, WAVES has mainly moved lower in April, and today fell to a bottom of $15.98.

Today’s intraday low in WAVES/USD follows on from Sunday’s high of $18.09, and comes as price has fallen for six days in a row.

This latest drop seems to have taken prices to a support level of $16.50, which is the lowest floor for WAVES since early March.

In addition to this, today’s 8% drop has also led to a decline in relative strength, and the 14-day RSI is tracking at multi-week lows.

As of writing, WAVES is deep in oversold territory, which could be a positive for those waiting for a rebound, as bulls could see this as an opportune time to buy low.

Might we see a rebound in WAVES this week? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/g6EFSJ7
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

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

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