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Biggest Movers: WAVES Nearly 60% Higher, as AXS Surges Close to 25% in Today’s Session

  • Ralph Smith
  • 31/05/2022
  • 2 minute read
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WAVES prices surged nearly 60% on Tuesday, leading crypto market gainers in today’s session. The move put prices at a 20-day high, with AXS up more than 25% earlier in the day.

16} WAVES

WAVES was one of Tuesday’s biggest gainers, with prices up nearly 60% early in today’s trading session.

Following recent lows and an early-week bottom of $6.00, WAVES/USD rose to an intraday peak of $10.15 today.

Tuesday’s surge comes as prices continue to climb from last week’s bottom of $3.86, the lowest level for WAVES since January 2021.

WAVES/USD – Daily Chart

From trading at support, WAVES now looks to hit resistance at $12.30, which it has not reached since May 11.

Despite fading gains throughout the session, price is trading at its highest level since that date and sits at $8.69 as of this writing.

The 14-day RSI is at its highest level in two months and is just below the 53.80 ceiling, which the WAVES bulls need to break to reach $12.

AXS Infinity (AXS)

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As crypto bulls maintain recent sentiment, there were multiple tokens up over 20% on Tuesday, but it was the second biggest move AXS was.

Derived from the blockchain gaming ecosystem Axie Infinity, this token rose to an intraday peak of $27.82 on Tuesday.

The spike comes on the heels of the announcement that game developer SkyMavis has revealed the first round of games to be hosted on the Axie Infinity blockchain.

AXS/USD – Daily Chart

The chart shows that today’s rally was subsequently tempered as the AXS hit long-term resistance at $28.00.

It has not passed this point since May 9, and as the bulls began to exit, it appears that the bears saw this as the perfect time to re-enter the market, securing their gains in the process.

However, the 10-day and 25-day moving averages are now close to each other, further increasing the likelihood of an upward cross.

If that happens, this ceiling will be broken and traders will target the $35 ceiling at a higher level.

Image credits: Shutterstock, Pixabay, Wiki Commons

Ralph Smith

Cryptocurrency geek. Met with Bitcoin and altcoins back in 2011, when the price of BTC was about 10$. Writing articles since 2014 to these days.

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