Technical Analysis: WAVES Almost 20% Higher to Start the Week, as FLOW Also Rises

WAVES was erstwhile again trading higher, arsenic cryptocurrency markets marginally climbed to commencement the week. Although the weekend’s reddish question has not afloat faded, FLOW was besides capable to determination higher connected Monday.

WAVES

WAVES roseate for a 2nd consecutive league to commencement the week, breaking retired of its semipermanent absorption level successful the process.

Today’s determination successful WAVES/USD saw prices interruption done its semipermanent absorption level of $19.55, rising to a 3-month precocious successful the process.

As of penning this, WAVES is up 17.2%, and roseate to an intraday precocious of $21.86, which is its highest level since December 4.

WAVES/USD – Daily Chart

This determination pushed WAVES person to different ceiling of $23.00, with the 14-day RSI continuing to hover supra overbought territory.

After tracking astatine 72 yesterday, terms spot presently sits astatine 78.4, which is its highest since August, erstwhile crypto markets were climbing to grounds highs.

Although we could beryllium looking astatine further marginal gains, it whitethorn beryllium hard for immoderate to judge this tally volition proceed passim the week.

FLOW

Although it didn’t ascent by astir arsenic overmuch arsenic WAVES, FLOW did rebound to commencement the week, pursuing yesterday’s driblet successful price.

FLOW/USD rallied from its enactment level of $5.45 connected Monday, to deed an intraday precocious of $5.91 earlier successful today’s session.

This came arsenic the level wrong the 14-day RSI of 41.30 held firm, creating the instauration for bulls to re-enter the marketplace today.

FLOW/USD – Daily Chart

Looking astatine the chart, this indicator present tracks astatine the 45.06 level, and comes arsenic the moving averages of 10/25-days look acceptable for an upward cross.

Should this occur, the $6.90 ceiling volition apt beryllium the adjacent people country for bulls, which person apt already entered the market.

Is the $6.90 level a realistic people this week? Let america cognize your thoughts successful the comments.

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