The cryptocurrency market has continued its wonderful begin to the week, with most cash buying and selling within the inexperienced zone.
The cryptocurrency market is set to document features for the second consecutive day this week. The ongoing constructive efficiency has seen the market add more than 2.5% to its worth during the last 24 hours.
At press time, the overall cryptocurrency market has crossed the $1.3 trillion mark as soon as once more. Bitcoin has topped the $31k resistance degree and will surge greater 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 more than 3% to its worth within the final 24 hours.
However, WAVES, the native token of the Waves blockchain, is the perfect performer amongst the highest 100 cryptocurrencies today. WAVES is up by more than 44% during the last 24 hours, outperforming the opposite main cryptocurrencies.
WAVES has been performing effectively because the improvement group launched its revival plan a number of days in the past. The revival plan contains the choice to fully restore the dollar-peg of USDN stablecoin over the following eight weeks.
Key ranges to observe
The WAVES/USDT 4-hour chart is very bullish in the meanwhile, because of the cryptocurrency’s constructive efficiency. At the second, the technical indicators present that WAVES may rally greater 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 power index of 73 exhibits 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.
In the occasion of prolonged bullish efficiency, WAVES may transfer previous the $15 mark for the second time this month.