Home Latest News Biggest Movers: LUNA Climbs 1500% Following Do Kwon Tweets, While AVAX and...

Biggest Movers: LUNA Climbs 1500% Following Do Kwon Tweets, While AVAX and NEAR Fall on Saturday – Market Updates Bitcoin News – Bitcoin News

Ads

by Eliman Dambell
Following tweets from Terra founder Do Kwon, LUNA surged by over 1,500% on Saturday. However, with several exchanges halting deposits, only those who entered at the very bottom have seen these gains. This comes as AVAX and NEAR both fell by over 20%.
Although LUNA was undoubtedly today’s biggest gainer, recent volatility and price action makes it almost impossible to truly analyze.
However, another relative big mover in today’s session was AVAX, which fell by as much as 20%.
AVAX/USD slipped to an intraday low of $29.55, which as of writing, is 20.83% lower than Friday’s peak of $37.72.
Since breaking out of its long-term support level of $65.60 only ten days ago, AVAX has dropped for eight of those sessions, to now trading at a new floor.
This new support looks to be the $28.80 level, which is marginally above a nine-month low in prices.
Despite this recent decline in value, bulls are optimistic about a recovery, as the RSI hovers in oversold territory, which has led some to believe that price strength can only go up from here.


SOL was also down close to 20% on Saturday, however the drop in NEAR sent prices closer to a nine-month low of its own.
Following a high of $7.58 on Friday, NEAR/USD sank to an intraday bottom of $5.98, which is over 21% lower than yesterday’s price.
NEAR has broken out of two key support levels in the last ten days —first, that of the $12.60 point, and more recently the $9.90 level.
As a result of these drops, it has been a struggle for traders to find a new floor, however this seems to have come at $6.00.
Despite prices falling to $3.57 earlier this week, which is the lowest level since last August, we have seen a slight recovery, as AVAX consolidates at the new support point.
The RSI is also tracking in oversold territory, and as of writing is at 25.76, which is its weakest point since September 2020, when the first AVAX token was issued.
Is this an ideal time for bulls to re-enter the market? Let us know your thoughts in the comments.
Eliman brings a eclectic 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. Bitcoin.com 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.
Tony Hawk’s Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs … read more.
Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Well’
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s … read more.
Check all the news here

source

Ads
Previous articleDo you need a free subscription to Netflix, Amazon prime and Disney+ Hotstar, Click to know details – Kalinga TV
Next articleIs the Apple One subscription bundle worth it in 2022? – AppleInsider
Abhinav Breathes and Bleeds Technology. He's a humanoid with a passion for Gadgets, Cars, Gaming. You can usually find him on PSN Blabbering about his FIFA skills.