This week has been quite a roller-coaster for most cryptocurrencies. Bitcoin fell below $7,000 into $6,400 before bouncing back quite hard peaking at $7,440. Of course, most major cryptocurrencies have followed suited and posted similar gains. The previous ‘week analysis’ can be found here.
Silverway + 78%
Silverway saw a significant bounce on the daily chart around 2 weeks ago and has been able to confirm a daily uptrend with a lot of continuation from the bulls. The 12 and 26-period EMAs are on the verge of a bull cross now and the RSI is not overextended just yet.
SLV/USD Daily Chart – HitBTC
Waves + 45%
Waves has been outperforming most major cryptocurrencies for the past two weeks after the bulls were able to form a really strong daily uptrend. The daily chart has now formed a clear bull flag which is waiting for continuation after the 12-period EMA acted as support today. The RSI is, however, overheated and may slow down the bulls for a while. The digital asset has also experienced a really significant trading volume increase. Waves is traded on Binance.
WAVES/USDT Daily Chart – Binance
Stratis + 30%
Stratis experienced an 18% bull break a few days before the rest of the cryptocurrencies started their own. The bull break had significant trading volume behind it and has formed a daily uptrend with a lot of continuation. The bulls have been able to maintain the 26-period EMA support two days in a row and they are now looking for even more continuation as the RSI level has cooled off. The digital currency is available on Binance.
STRAT/USD Daily Chart – Binance
TomoChain + 28.8%
TomoChain has been in a massive bull surge of around 165% for the last month and continues posting gains. The daily chart is clearly in a massive uptrend even though the RSI has been overheated for a week now. This certainly hasn’t stopped the bulls from setting new higher highs and higher lows.
The bulls are currently looking to set a higher low compared to $0.44 and see continuation above the high at $0.69. TomoChain is available on Binance.
TOMO/USDT Daily Chart – Binance
Matic Network + 25.3%
The Binance Launchpad cryptocurrency has seen some spicy gains for the past 4 days, however, traders should be extra careful as the digital asset has lost more than 50% of its value 2 weeks ago after a massive daily crash. The bulls are now trying to break above the 26-period EMA resistance. If they managed to do it, they will basically face no resistance until $0.42. You can buy Matic Network on Binance.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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