Technical Analysis: Record Broken, as ANC Falls Over 20% on Sunday

Following a week-long winning streak, ANC yet fell connected Sunday, arsenic crypto bears yet entered the fray. Despite this, WAVES managed to support caller highs, and has present climbed adjacent to 60% successful the past week.

Anchor protocol (ANC)

Following a streak of caller grounds highs from Wednesday to Saturday, Sunday saw anchor protocol (ANC) autumn by implicit 20% arsenic bears yet re-entered the market.

Anchor protocol which was trading higher for 5 consecutive sessions, saw this momentum halted successful a large way.

ANC/USD fell to an intraday debased of $4.55 during today’s session, pursuing an earlier precocious of $5.95 to commencement the day.

ANC/USD – Daily Chart

This driblet present means that the all-time precocious successful ANC’s terms is $6.18, and comes aft upward terms momentum seemingly ran retired of steam.

Prices were overbought for a ample portion of its run, with galore seeing it arsenic inevitable that a driblet would come.

The 14-day RSI present tracks beneath 63, aft climbing to arsenic precocious arsenic 86 earlier connected this week.

WAVES

WAVES continued to cement its presumption arsenic the #48 ranked cryptocurrency presently successful circulation, aft rebounding from Yesterday’s fall.

Today’s determination successful WAVES/USD comes arsenic prices bounced higher, and are present marginally beneath absorption astatine $19.50.

Following a debased of $16.82 connected Saturday, WAVES rallied to an intraday highest of $19.16, which is conscionable nether $2 distant from its highest constituent since December 5.

WAVES/USD – Daily Chart

This determination pushed WAVES 5.23% higher arsenic of penning this, with the 14-day RSI continuing to hover supra overbought territory.

Price spot presently sits astatine 72.4, and present looks arsenic though it could beryllium trying to recapture the 76.9 resistance.

However arsenic we saw with ANC, erstwhile markets are overbought to this extent, an onslaught from bears is besides a possibility.

Is this a bully clip to abbreviated WAVES? Or volition it proceed to thrust higher? Let america cognize your thoughts successful the comments.

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