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Arweave up over 44% in the last week, Monero starts lower – market updates
Arweave, which has risen over 44% in the last week, was once again in the green, trading over 10% higher on Monday. This comes as Monero slipped in today's session. Biggest Gainers After a bearish January, crypto markets began to recover last week, with Arweave one of the biggest gainers during the period. Entering the week, AR/USD is currently trading 10.32% higher, hitting an intraday high of $39.81. This comes as the decentralized storage network is up 44% in the last 7 days and…
Arweave up over 44% in the last week, Monero starts lower – market updates
Arweave, which has risen over 44% in the last week, was once again in the green, trading over 10% higher on Monday. This comes as Monero slipped in today's session.
Biggest winners
After a bearish January, crypto markets began to recover last week, with Arweave one of the biggest gainers during the period.
Entering the week, AR/USD is currently trading 10.32% higher, hitting an intraday high of $39.81.
This comes as the decentralized storage network is up 44% in the last 7 days and continues to move towards the $40 mark.
Looking at the chart below, the move began after Arweave rebounded from its recent support at $29.40, where it traded on Friday, resulting in four consecutive sessions of gains.
As a result of this run, the 14-day RSI is now at 50.25, meaning prices are neither oversold nor overbought.
This sets it up perfectly for a breakout above $40, but since resistance at this level is quite strong, there will likely be bears waiting to push prices back down towards support.
If price strength continues to rise, Arweave bulls could target the higher resistance at $52.
Biggest losers
At the time of writing, the cryptocurrency was trading 1.37% higher on the day, but there are some notable bears to start the week.
Monero was one of them, with XMR /USD fell as much as 4% during Monday's session, hitting an intraday low of $141.22.
Looking at the chart below, today's decline has seen Monero reach its recent support at $141.90 after trading at resistance at $155.80 just yesterday.
This follows the RSI level of 37 acting as a hurdle to rising momentum and has since fallen to 34, moving deeper into oversold territory.
We could see XMR Rupture under this floor? Let us know your thoughts in the comments.
Photo credit: Shutterstock, Pixabay, WikiCommons