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

DOGE rallied connected Monday, arsenic traders reacted to the quality that Elon Musk was perchance nearing a takeover of Twitter. While DOGE surged, AXS and WAVES were besides large movers, nevertheless they were chiefly successful the red, arsenic caller losses extended.

Dogecoin (DOGE)

DOGE was trading higher to commencement the week, arsenic markets reacted to the quality that Elon Musk’s bid to get Twitter was being considered by the board.

Musk antecedently stated that helium could spot DOGE utilized arsenic a outgo oregon tipping method connected the platform, should his attempts to get the societal media institution succeed.

Following the news, DOGE/USD roseate to a highest of $0.1412 successful today’s session, which is implicit 5% higher than Sunday’s debased of $0.1239.

Monday’s surge successful terms comes aft a mendacious breakout of the $0.1310 enactment level, which past sent prices to their lowest level since March 22.

DOGE/USD – Daily Chart

Today’s rally, which appears arsenic if it could beryllium a bullish engulfing pattern, enactment an extremity to a six time losing streak for DOGE.

In summation to this, momentum seems to besides beryllium climbing, with the 14-day RSI rising supra the 50 level for the archetypal clip successful implicit a week.

Should this inclination continue, the adjacent evident people volition beryllium the semipermanent absorption constituent of $0.1500.

WAVES

WAVES, connected the different hand, was predominantly successful the reddish today, arsenic it extended a caller losing streak that has sent prices down to multi-week lows.

Since peaking supra $64 to commencement the month, WAVES has chiefly moved little successful April, and contiguous fell to a bottommost of $15.98.

Today’s intraday debased successful WAVES/USD follows connected from Sunday’s precocious of $18.09, and comes arsenic terms has fallen for six days successful a row.

WAVES/USD – Daily Chart

This latest driblet seems to person taken prices to a enactment level of $16.50, which is the lowest level for WAVES since aboriginal March.

In summation to this, today’s 8% driblet has besides led to a diminution successful comparative strength, and the 14-day RSI is tracking astatine multi-week lows.

As of writing, WAVES is heavy successful oversold territory, which could beryllium a affirmative for those waiting for a rebound, arsenic bulls could spot this arsenic an opportune clip to bargain low.

Might we spot a rebound successful WAVES this week? Let america cognize your thoughts successful the comments.

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