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Biggest Movers: ATOM Remains Close to 1-Year Lows, as DOT Declines 8%

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ATOM moved closer towards a one-year low on Wednesday, as prices dropped by nearly 10%. This came as DOT also declined during today’s trading session, when global crypto markets fell by over 3% as of writing.

Cosmos (ATOM)

On Wednesday, ATOM was one of the biggest movers in the session, as it fell by nearly 3% lower during hump-day.

ATOM/USD slipped to an intraday low of $10.47 during today’s stretch, which came following a peak of $11.73 on Tuesday.

This bottom saw prices move towards their long-term support level of $10.30, a level which was established last week, after prices dropped to multi-month lows.

As of writing, prices are down 8.46%, with the 14-day Relative Strength Index (RSI) also lower, trading almost below 30.

Looking at the chart, the index is marginally above 30, after failing to break beyond its own resistance level of 33.

With prices being so close to a floor, the automatic view would be that we are set for a drop, which could see us recapture recent one-year lows.

Polkadot (DOT)

DOT was also down during hump-day, as prices slipped by over 8%, with prices falling for two of the last three days.

Following an intraday high of $11.14 over the course of Tuesday’s session, DOT/USD dropped to a low of $9.78 earlier today.

As prices declined, bears began to outline potential target points, with the floor of $8.40 a level of interest for those expecting further declines.

This support level was first established six days ago, when prices fell below $7, hitting their lowest point since January 21 as a result.

Although this floor has proven itself to be firm, price strength is still currently oversold, with the RSI tracking at 35.33.

This point is a floor in its own right, and as long as it remains firm, we will likely not see any further drops in price in the next few days.

Do you believe $8.30 is the true floor in DOT? Let us know your thoughts in the comments.

Biggest Movers: SHIB, DOT Nearly 30% Higher, as SOL Also Surges

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Cryptocurrency markets were mostly in the green on Friday, as DOT was up by nearly 40%, moving away from an 18-month low. Although SOL, AVAX, and MATIC all rose by over 20%, it was SHIB that was one of the standout gainers in today’s session.

Polkadot (DOT)


DOT was one of today’s biggest gainers, as it climbed by nearly 40% during Friday’s stretch, moving away from recent lows in the process.

On Friday, DOT/USD surged to a peak of $11.73, which comes less than 24 hours after it hit a low of $7.04

This bottom was the lowest level DOT has reached since January 2021, and came as prices fell for eight of the last nine days.

Today’s rally commenced as prices jumped from a now support level of $8.50, climbing by as much as 38% to its intraday high.

Despite the rise, the 14-day RSI is still marginally oversold, and currently tracks at the 37.87 level, which is just below a ceiling of 40.

Should we see this ceiling broken, then we will see the price resistance of $12.50 also give way.

Shiba Inu (SHIB)


While SOL, MATIC, and AVAX were all trading by as much as 20% higher on Friday, it was a meme coin which was today’s most notable secondary mover.

SHIB was easily one of today’s biggest gainers, as it too rallied away from recent lows, following this week’s crypto sell-off.

Following a low of $0.00001041 on Thursday, shiba inu rose to an intraday peak of $0.00001426 to end the week.

Today’s move saw SHIB/USD move away from a recent eight-month low, as prices look to stabilize in the aftermath of recent declines.

Looking at the chart, the rally came as the 14-day RSI moved past a resistance level of 33.60, and is now tracking above 35.

The next notable ceiling is at the 40 mark, which may test bullish pressure, with some likely to use it as an opportunity to exit, while securing gains.

Will today’s crypto rally extend into the weekend? Let us know your thoughts in the comments.

Biggest Movers: DOT, ADA, SHIB Down More Than 10%, as WAVES Rallies on Monday

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Biggest Movers: DOT, ADA, SHIB Down Under 10%, as WAVES Rallies on Monday

Monday’s downturn in crypto markets sent several tokens lower, with cardano, polkadot and shiba inu all falling by over 15%. Despite this, there were some notable exceptions which rose to start the week, WAVES being one of them.

WAVES

WAVES was trading in the green on Monday, as prices rose by as much as 9% during the first trading day of the week.

Following yesterday’s low of $12.65, WAVES/USD rallied on Monday, hitting an intraday peak of $14.54 in the process.

Today’s surge saw price move away from the long-term support level of $12.40, which is an area it has hovered around for the last ten days.

Like most cryptos, WAVES has been trading lower for the past few sessions, with today’s rise ending a streak of two successive days of declines.

Looking at the chart, history shows us that bulls traditionally re-enter at the price range, as seen on February 28, which was when the last upswing began.

Although prices are still oversold, the RSI is currently hovering under resistance of 38, which will need to be broken if a bullish run were to continue.

Shiba Inu (SHIB)

The world’s second largest memecoin was also trading lower to start the week, as SHIB fell by over 20% on Monday.

SHIB slipped to an intraday bottom of $0.00001492 earlier in today’s session, following a top of $0.00001885 less than 24-hours prior.

Today’s low, which is the lowest level SHI/USD has traded since last October, comes following five straight sessions of declines.

Traders are likely looking to confirm if today’s bottom will act as a support point, following last week’s breakout of the previous floor of $0.00002010.

One sign that a floor may be nearing is the fact that the 14-day RSI is now tracking at its lowest level since last May.

So considering that prices are deeply oversold, could potentially entice longer-term bulls to buy the dip, in hopes of further rallies.

Do you expect more decline in SHIB, or have we found a floor? Let us know your thoughts in the comments.

Biggest Movers: SOL Moves Past LUNA, as EOS and FIL Lead Monday’s Gainers

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Biggest Movers: SOL Moves Past LUNA, as EOS and FIL Lead Monday's Gainers

Solana reclaimed the eighth position in the crypto top ten, as ADA and DOT were both over 10% higher to start the week. Despite this, it was EOS and FIL which led today’s gainer, with FIL gaining over 30% in the session.

Filecoin (FIL)

FIL rallied by as much as 30% to start the week, as cryptocurrencies rose across the board during Monday’s session.

The global crypto market cap was 6.5% higher on Monday, led by gains in FIL, which rose to an intraday high of $25.62.

Today’s peak follows yesterday’s lows which saw FIL trading below the $20 level, following recent rallies from support of $17.50.

From this support, FIL/USD continued to move beyond the resistance level of $23.30, with today’s high hitting its highest point since February 8.

Looking at the chart, prices are currently overbought, as the 14-day RSI indicator is tracking at 75.10.

This is the highest reading since September 6, and as such bears may be looking for an opportune time to push prices lower.

EOS

Although ADA, DOT, and SOL were all almost 9% higher as of writing this, none rose as much as EOS on Monday.

Following a low of $2.56 to begin the session, EOS/USD climbed to a peak of $3.17, breaking out of its long-term resistance in the process.

Monday’s move saw the world’s 49th largest cryptocurrency surge past its ceiling of $2.77, on its way to its highest point since January 5.

Today’s three-month high came as readings on the RSI indicator were off the charts, as price strength also rose to multi-month highs.

As of writing this, the 14-day Relative Strength Index has a reading of 77.91, which is its most since August 15.

Similar to FIL, EOS bulls now have a conundrum, close positions and accept current gains, or go through the market uncertainty that is coming due to prices being overbought.

Is there more upside momentum in EOS despite current highs? Let us know your thoughts in the comments.

Value Locked in Defi Climbs 13% Higher Since Last Week’s Low, SOL Price Jumps 25%, AVAX TVL Spikes

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Value Locked in Defi Climbs 13% Higher Since Last Week's Low, SOL Price Jumps 25%, AVAX TVL Spikes

The total value locked (TVL) in decentralized finance (defi) has jumped back above the $200 billion range, hovering around $216.49 billion on Saturday morning (EST). The TVL in defi has increased 13.60% since tapping a low of $190.57 billion 13 days ago on January 23. The decentralized exchange (dex) Curve’s $19.41 billion TVL dominates the total value locked by 8.84%

Ethereum’s Defi TVL Dominates by 61% Increasing 10% During the Last Week, Cross-Chain Bridge Value Jumps 16.2% in 30 Days


The value locked in decentralized finance (defi) has climbed higher since the low it saw on January 23 dropping $10 billion below the $200 billion mark. Today the TVL is 13.60% higher as the value locked has increased a great deal during the last few days.

The protocol Uniswap’s TVL jumped 9.44% during the last seven days, Balancer increased by 9.25%, and this week Makerdao’s TVL swelled by 9.10%. Furthermore, smart contract platforms, in terms of market capitalization have increased their overall value to $674 billion up 8.3% in the last 24 hours.

The top smart contract platform token ethereum (ETH) has seen its value swell by 18.5% in the last seven days. Binance coin (BNB) jumped 8.8% this week, and cardano’s (ADA) value increased by ​​9.3%.

At the same time, solana (SOL), polkadot (DOT), terra (LUNA), and avalanche (AVAX) saw double-digit weekly gains. SOL climbed the highest this past week, jumping 25.6% against the U.S. dollar.

In terms of defi TVL per blockchain, Ethereum still rules the roost with 516 defi protocols and $135.78 total value locked today. ETH’s TVL represents 61.41% of the entire $216.49 billion locked in defi. The second-largest defi chain is Terra with the network’s 17 defi apps commanding $14.67 billion in value today.

While Ethereum saw a seven-day change by increasing its TVL by 10%, Terra’s defi TVL jumped 7.49%. Avalanche (AVAX) saw one of the largest jumps this week in the top ten TVLs by chain with a 19.38% increase to $10.08 billion.

Cross-chain bridge TVLs have increased during the last month by 16.2% and today, there’s $25.11 billion locked across various bridges. While Polygon’s bridges lead the pack with a $5.59 billion TVL, Avalanche has $5.53 billion locked on Saturday.

Wrapped ethereum (WETH), ethereum (ETH), and USDC are the most leveraged crypto assets on cross-chain bridges this weekend.

What do you think about this week’s defi action and smart contract token markets? Let us know what you think about this subject in the comments section below.