Technical Analysis: ANC Captures Friday’s Largest Gains, as WAVES up Nearly 100% in the Last Week

Anchor protocol and WAVES were some of Friday’s biggest gainers, as crypto markets mainly traded lower at the end of the week. At the time of writing, the global cryptocurrency market cap has dropped over 4%, with GALA and MKR, the day’s biggest decliners.


WAVES extended its recent streak on Friday, as the world’s 47th largest cryptocurrency rose for a sixth consecutive session.

Today’s rally in WAVES/USD came as prices rose to their highest level since December 17, breaking beyond resistance of $19.72.

The price of WAVES rose to an intraday high of $20.87 on Friday, following a low of $17.95 less than 24-hours ago.

Technical Analysis: ANC Captures Friday's Largest Gains, as WAVES up Nearly 100% in the Last Week
WAVES/USD – Daily Chart

As of writing this, WAVES traded 4.07% higher, as the 14-day RSI rose to its highest level since January 31.

This rise in price strength has also seen the RSI move to its highest point since last August, when it traded above the 80 level.

This may be bad news for bulls, however, as with prices now clearly overbought, whilst trading at resistance, bears are likely to be nearby.

Anchor protocol (ANC)

Friday’s biggest gainer in the crypto top 100 was undoubtedly anchor protocol (ANC), which rose to a new all-time high, following recent gains.

Anchor protocol was up for a fourth successive session, following its breakout from the long-term resistance point of $4.05.

This latest move occurred when the 14-day RSI failed to break its floor of 69, and instead rose to a now record level of 83.

Technical Analysis: ANC Captures Friday's Largest Gains, as WAVES up Nearly 100% in the Last Week
ANC/USD – Daily Chart

As of writing, ANC/USD is up almost 24%, hitting an intraday high of $5.53 in the process of today’s gains.

Overall, ANC is up over 55% in the last seven days, and should this bullish pressure continue, we could be set for more record highs this weekend.

Tags in this story

With prices being overbought, is this the perfect time to sell ANC? Let us know your thoughts in the comments.'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer


Articles You May Like

Money market funds swell by over $286bn as investors pull deposits from banks
ARB price to $2? Ethereum L2 rival Arbitrum will double in April, fractal suggests
Stocks making the biggest moves midday: Micron, Paramount, McCormick and more
Cointelegraph Markets Pro delivers trading alerts good for 65% gains in a choppy market
Banks fail, stocks shrug

Leave a Reply

Your email address will not be published. Required fields are marked *