The cryptocurrency market has continued its glorious begin to the week, with most cash buying and selling within the inexperienced zone.
The cryptocurrency market is ready to document positive aspects for the second consecutive day this week. The continued constructive efficiency has seen the market add greater than 2.5% to its worth over the past 24 hours.
At press time, the entire cryptocurrency market has crossed the $1.3 trillion mark as soon as once more. Bitcoin has topped the $31k resistance degree and will surge increased over the approaching hours if the market momentum is maintained.
Ether, the second-largest cryptocurrency by market cap, is closing in on the $2k mark after including greater than 3% to its worth within the final 24 hours.
Nevertheless, WAVES, the native token of the Waves blockchain, is the perfect performer amongst the highest 100 cryptocurrencies as we speak. WAVES is up by greater than 44% over the past 24 hours, outperforming the opposite main cryptocurrencies.
WAVES has been performing effectively because the improvement workforce launched its revival plan a number of days in the past. The revival plan consists of the choice to fully restore the dollar-peg of USDN stablecoin over the following eight weeks.
Key ranges to look at
The WAVES/USDT 4-hour chart may be very bullish in the intervening time, because of the cryptocurrency’s constructive efficiency. For the time being, the technical indicators present that WAVES may rally increased if the market momentum is maintained.
The MACD line crossed into the constructive territory a number of days in the past, indicating bullish momentum. The 14-day relative energy index of 73 reveals that WAVES may quickly enter the overbought area.
At press time, WAVES is buying and selling at $8.39 per coin. If the rally continues, WAVES may surge previous the primary resistance degree at $11.22 earlier than the top of the day.
Within the occasion of prolonged bullish efficiency, WAVES may transfer previous the $15 mark for the second time this month.