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.

wave

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.




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