WAVES jumps nearly 60%, AXS surges nearly 25% in today’s trade – Market Update Bitcoin News

WAVES prices surged nearly 60% on Tuesday, leading the cryptocurrency market’s gains in today’s session. The move pushed prices to a 20-day high, while AXS also rose, rising more than 25% earlier in the day.


WAVES was one of the biggest gainers on Tuesday, as prices jumped nearly 60% earlier in today’s session.

WAVES/USD rose to a session high of $10.15 today, following recent lows and a bottom at $6.00 to start the week.

Tuesday’s surge was WAVES’ lowest since January 2021, after prices continued to rise from last week’s floor of $3.86.

WAVES/USD – Daily Chart

Trading from support, WAVES now looks set to hit resistance at $12.30, which has not been reached since May 11.

While the gains faded throughout the session, prices are currently trading at their highest since that date, at $8.69 at press time.

The 14-day RSI is hovering at a two-month high, just below its own upper limit of 53.80, which WAVES bulls must breach to reach the $12 mark.

Axis Unlimited (AXS)

While multiple coins rose more than 20% on Tuesday, AXS was the second-biggest mover as cryptocurrency bulls maintained recent sentiment.

The token, derived from blockchain gaming ecosystem Axie Infinity, rose to an intraday peak of $27.82 on Tuesday.

The surge comes amid announcing that game developer Sky Mavis has revealed its first round of games to be hosted on the Axie Infinity blockchain.

AXS/USD – Daily Chart

Looking at the chart, today’s gains have slowed as AXS hit long-term resistance at $28.00.

The price has not moved above this point since May 9, and the bears seem to use this as an ideal time to re-enter the market as the bulls start to exit, taking profits in the process.

Nonetheless, the 10-day and 25-day moving averages have moved closer to each other, further increasing the chances of an upward crossover.

If that happens, this cap will be breached, with traders targeting a cap at higher levels at $35.

Can the bulls break the $28 ceiling this week? Let us know your thoughts in the comments.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.

Image Source: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network 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 herein.

Source link