NEAR fell to a one-month low to start the weekend, as prices moved below their long-term support point. WAVES also fell as much as 14% during Saturday’s session. Overall, the crypto markets are down about 5% as of writing.
Near Protocol (Near)
NEAR was one of the most notable movers to start the weekend, as prices fell by more than 10% on Saturday.
After Friday’s peak of $5.03, NEAR/USD has fallen so far in today’s session to an intraday low of $4.38.
This drop saw prices fall by about 13%, and the global crypto market capitalization was down 4.8% as of writing.
Saturday’s drop came as NEAR broke its support point at $4.45, its lowest point since May 11.
The 14-day RSI is still strongly oversold, and is trading at 30.62, a two-week low, while also acting as a floor.
If this floor is breached, we can see that NEAR has dropped below a one-month low of $3.57, and instead has dropped to an 11-month low.
Wave’s
Waves was also down double digits on Saturday, as it hit a tenth consecutive session low.
At the time of writing, WAVES/USD started the weekend with an intraday low of $6.30, which is $1.17 lower than yesterday’s high.
Looking at the charts, today’s move has pushed WAVES closer to its long-term support at $4.40, a level it hasn’t hit since May 30.
Overall, the price is down more than 15%, and is trading at its lowest point in nearly two weeks.
Despite the weakening of the RSI as a result of the sell-off, the indicator has already found another level of support at 36.50.
However, relative strength is still trending towards this level, and if it reaches there, WAVES could even reach $4.40.
Is it inevitable that the waves will fall further as the weekend goes on? Let us know your thoughts in the comments.
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