WAVES rose to the top of the weekend after recent price declines. Crypto markets also moved slightly higher. The biggest contributors to these gains were EOS, and GMT. Both rose by more than 6 %.
EOS
EOS prices rose for the second consecutive session to begin the weekend. They climbed to their highest level in more than ten days.
After trading at $2.34 on Friday, EOS/USD surged to an intraday high of $2.52 in Saturday’s session.
This is the highest EOS hit since April 7th, and it comes after prices have moved away from the long term support level to begin the week. The chart shows that this floor was at $2.20. This occurred after two weeks of declining prices, which began at $3.17.
This drop also saw the 14 day RSI reach a multi-month low at 36.34. Price strength has climbed and is now below a ceiling limit of 52.
If this resistance level is broken, bulls could push price to the $2.65 mark.
WAVES
WAVES also rose on Saturday as traders seem to have found a floor after a bearish run. Similar to EOS the prices of WAVES have been fighting a red wave from March 29th, which was when the bear market in crypto markets started.
Waves dropped to $20 on Thursday in this run, its lowest point in more than five weeks. This is an area bulls often return to.
After beginning the day closer to the $20.57 mark, WAVE/USD rose to $22.89 at the time of writing.
The chart shows that the 14-day RSI has indicated that price strength has been consolidating over the past few days as it sits at 35.70.
This is the lowest level that the RSI has been tracking since February. Bulls might see this as an opportunity for them to purchase recent dips, despite the fact that prices are undoubtedly oversold.
