NEAR fell to a one-month low to start the weekend as prices fell below a long-term support point; WAVES also fell lower during Saturday’s session, dropping as much as 14%; and the DOW fell to a one-month low as prices fell below a long-term support point. Overall, the crypto market is down about 5% at the time of writing.
NEAR Protocol (NEAR)
NEAR was one of the most notable moves to start the weekend as prices fell over 10% on Saturday.
After peaking at $5.03 on Friday, NEAR/USD fell to an intraday low of $4.38 in today’s session
This decline is attributed to a roughly 13% drop in prices and a 4.8% decline in the size of the global crypto market at the time of writing.
Saturday’s decline came as NEAR broke out of the $4.45 support point and was on its way to its lowest level since May 11.
The 14-day RSI is also now firmly oversold, trading at 30.62, its lowest level in two weeks, while also acting as a floor.
If this floor is breached, NEAR may break below its 1-month low of $3.57 and hit an 11-month bottom instead.
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WAVES
WAVES was down double digits again on Saturday, making it the 10th consecutive low.
At the time of writing, WAVES/USD opened the weekend with an intraday low of $6.30, which is $1.17 below yesterday’s high.
Looking at the chart, today’s move brings the WAVES closer to long-term support at $4.40, a level it has not hit since May 30.
Overall, prices are down over 15% at the time of writing, trading at almost two-week lows.
Although the RSI weakened as a result of the sell-off, the indicator has already found another level of support at 36.50.
However, relative strength is still heading toward this level and if it lands there, WAVES could hit $4.40.
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