THELOGICALINDIAN - DOGE rallied on Monday as traders reacted to the account that Elon Musk was possibly advancing a takeover of Twitter While DOGE surged AXS and WAVES were additionally big movers about they were mainly in the red as contempo losses continued
Dogecoin (DOGE)
DOGE was trading college to alpha the week, as markets reacted to the account that Elon Musk’s bid to access Twitter was actuality advised by the board.
Musk ahead declared that he could see DOGE acclimated as a acquittal or angled adjustment on the platform, should his attempts to access the amusing media aggregation succeed.
Following the news, DOGE/USD rose to a aiguille of $0.1412 in today’s session, which is over 5% college than Sunday’s low of $0.1239.
Monday’s billow in amount comes afterwards a apocryphal blemish of the $0.1310 abutment level, which again beatific prices to their everyman akin back March 22.
Today’s rally, which appears as if it could be a bullish engulfing pattern, put an end to a six day accident band for DOGE.
In accession to this, drive seems to additionally be climbing, with the 14-day RSI ascent aloft the 50 akin for the aboriginal time in over a week.
Should this trend continue, the abutting accessible ambition will be the abiding attrition point of $0.1500.
WAVES
WAVES, on the added hand, was predominantly in the red today, as it continued a contempo accident band that has beatific prices bottomward to multi-week lows.
Since peaking aloft $64 to alpha the month, WAVES has mainly confused lower in April, and today fell to a basal of $15.98.
Today’s intraday low in WAVES/USD follows on from Sunday’s aerial of $18.09, and comes as amount has collapsed for six canicule in a row.
This latest bead seems to accept taken prices to a abutment akin of $16.50, which is the everyman attic for WAVES back aboriginal March.
In accession to this, today’s 8% bead has additionally led to a abatement in about strength, and the 14-day RSI is tracking at multi-week lows.
As of writing, WAVES is abysmal in oversold territory, which could be a absolute for those cat-and-mouse for a rebound, as beasts could see this as an appropriate time to buy low.
Might we see a backlash in WAVES this week? Let us apperceive your thoughts in the comments.
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