Solana extended recent gains, as it continued to cement its place as the world’s sixth-largest cryptocurrency. ZIL also rose on Thursday, following yesterday’s 50% increase in its value. All of this came as WAVES jumped by as much as 15% during the session.
Although solana (SOL) was higher for a third straight session, hitting a multi-month high in the process, it was zilliqa (ZIL) which was once again the day’s biggest gainer.
Today’s surge saw ZIL/USD climb to an intraday high of $0.218 during Thursday’s session, which is its highest point since last May.
Following the breakout of the $0.1090 resistance, ZIL has rallied to reach a streak of higher highs throughout the course of the week.
Price strength continues to be overbought as a result of these gains, with the 14-day RSI now tracking at 91.51.
This is the highest point this indicator has hit on record, which shows that there could only realistically be one direction long-term from this point.
As seen from today’s candlestick, the wick fell from its earlier highs and now trades at $0.1844, which is likely a result of profit-taking.
The price of waves (WAVES) rose for a fourth consecutive session on Thursday, hitting a new all-time high in the process.
Following yesterday’s high of $60.03, WAVES/USD climbed to an intraday high of $62.36 during today’s trading session.
This move came following earlier lows of $49.68, with WAVES prices trading nearly 13% higher than this, as of writing.
In addition to the current all-time high, the 14-day RSI is also tracking at a peak of 92.28, which is firmly above the overbought zone.
As a result of this, and similar to ZIL, this will likely spur interest from bears, who believe a reversal in momentum is imminent.
The crossover of the moving average also seems to have matured, and a change in direction could come once a resistance in price is found.
Have we already hit a resistance level in WAVES? Let us know your thoughts in the comments.
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. 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.
Did you like this post? Consider donating to us.