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WAVES Reclaims $9 Area After $140% Drop: Biggest Weekly Gainers

2 mins
Updated by Geraint Price
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In Brief

  • ADA is trading inside an ascending parallel channel.
  • XLM has broken out from a descending resistance line.
  • HNT was rejected by the $10 resistance area.
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Be[In]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically from May 28 to July 3.

These cryptocurrencies are:

  1. Waves (WAVES) : 116.47%
  2. Cardano (ADA) : 25.70%
  3. Internet Computer (ICP) : 23.65%
  4. Stellar (XLM) : 21.56%
  5. Helium (HNT) : 20.42%

WAVES

WAVES has been falling since reaching an all-time high price of $63.88 on March 31. The downward movement led to a low of $4.13 on May 29. Afterwards, it initiated a sharp upward movement that is still ongoing.

Since its May 29 lows, WAVES has increased by 140% and reclaimed the $9 horizontal area in the process.

If the increase continues, the closest horizontal resistance level is at $16 while the closest Fib resistance level is at $27.

ADA

ADA has been increasing inside an ascending parallel channel since May 12. Such channels usually contain corrective movements, meaning that a breakdown from it would be likely.

On May 31, the price was rejected by the resistance line of the channel (red icon) and has been falling since. It is currently holding on above the middle of the channel (red circle). A decrease below this level would indicate that a breakdown and lower prices are forthcoming.

ICP

ICP has been falling since it was rejected on June 2 (red icon). The downward movement served to validate the $9.40 area as resistance.

If the decrease continues the closest support would be at $7.70, created by an ascending support line.

XLM

XLM has been falling underneath a descending resistance line since April 4. The downward movement led to a low of $0.10 on May 12.

XLM bounced afterwards and broke out from the line on May 30.

It is currently attempting to break out from the $0.155 resistance area. If it is successful in doing so, the next resistance would be at $0.187.

HNT

HNT has been falling underneath a descending resistance line since Nov 7. The downward movement led to a low of $6.24 on May 12. 

The price bounced afterwards, seemingly creating a double bottom pattern. But it was rejected by the $10 resistance area on May 30 (red icon) and has been falling since. The $10 area also coincides with the aforementioned descending resistance line. 

Until HNT manages to reclaim both of them, the trend cannot be considered bullish.

For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
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