WAVES Dominates Altcoin Race With 100%+ Weekly Surge

WAVES Dominates Altcoin Race With 100%+ Weekly Surge
  • Waves (WAVES) is the top gainer among the first 100 cryptocurrencies.
  • The price has increased by more than 100% in the last 7 days.
  • WAVES displayed the Bullish Flag pattern.

The crypto market has remained relatively bullish in the last two days despite the dismal performances of many assets due to many factors. Perhaps the most detrimental news is Ukraine’s failed negotiations with Russia and the latter’s invasion of the former.

However, leading the charge of altcoins is Waves (WAVES). In fact, it is the only altcoin in the top 100 with a gain of more than 100% in the last 7 days.

Just a couple of days ago, WAVES price was barely floating above $8.50. On the other hand, it reached about $20 in some exchanges, which is a surge of more than 110%.

WAVES/USDT 1-hr chart (source: TradingView)

As stated above, no other altcoin in the top 100 list has reached 100% in the last 7 days except WAVES. This has caused the crypto asset to grab the spotlight away from Bitcoin, Ethereum, and Cardano.

Perhaps, the only altcoin that performed relatively close to WAVES is Terra (LUNA), although it has yet to maintain its hold at the 80% gain in the last 7 days.

Also, the chart above displayed the formation of the Bullish Flag pattern. This is popular in the crypto space as a bullish continuation indicator, signaling that the rally has a high chance of continuing.

The high transaction volume across different exchanges also bears testament to its astounding rally.

On the other hand, the Relative Strength Index (RSI) at 61.22 shows that WAVES had an overbought status. This allowed holders to sell from sub-$20 to $17.93 at the time of writing.

In other news, crypto exchanges defied calls from Ukraine to freeze the accounts of Russian users. These exchanges believe that doing so goes against the very virtue of cryptocurrencies.

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