WAVES (WAVES) Reaches New All-Time High: Five Biggest Weekly Gainers

Be[in]Crypto takes a look at the five cryptocurrencies that increased the most from March 25 to April 1.

These cryptocurrencies are:

1. Ziliqa (ZIL) : 332.60%
2. STEPN (GMT) : 323.28%
3. SKALE Network (SKL) : 102.80%
4. WAVES (WAVES) : 81.32%
5. IOST (IOST) : 71.68%

ZIL

ZIL has been increasing since March 10, when it broke out from a descending wedge. The decrease accelerated on March 16 when the price created a very large bullish candlestick.

On March 30, ZIL broke out from the $0.148 resistance area. Besides being a horizontal resistance, this is also the 0.5 Fib retracement resistance level.

If the upward movement continues, the next resistance is at $0.24, very close to the all-time high price.

However, it is worth mentioning that the entire increase since the original breakout has barely retraced at all. Therefore, a re-test of at least the $0.148 area would be customary.

GMT

GMT has been increasing parabolically since March 9. The rate of increase further accelerated on March 29 (green icon).

Since then, GMT has increased by 286% in less than four days.

Using the length of the previous drop, the next closest resistance would be at $3.20.

SKL

SKL had been decreasing underneath a long-term descending resistance line since March 12. After numerous unsuccessful attempts at breaking out, SKL finally managed to do so on March 26. It has been moving upwards at an accelerated rate since.

The next closest resistance area is at $0.48.

WAVES

Similar to SKL, WAVES had been decreasing alongside a descending resistance line since May 4.

However, the price reversed the trend on Jan 24 and has been moving upwards since. On March 9, WAVES broke out from the descending resistance line and proceeded to reach a new all-time high of $63.47 on March 31.

The high was made right at the 1.61 external Fib retracement level, which often acts as resistance after all-time highs.

WAVES has created a long upper wick since (red icon), which is considered a sign of selling pressure.

IOST

IOST has been moving upwards since Jan 22 and accelerated its rate of increase on March 26. So far, it has reached a high of $0.054 on March 31.

Unlike SKL and WAVES, IOST is still following a descending resistance line which is currently at $0.065. The line is very close to the 0.618 Fib retracement resistance level at $0.061. A breakout above it would be expected to accelerate the rate of increase towards a new all-time high price.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here