AXS Falls Decrease Following Hacks, Whereas ZIL Climbs by Over 50% – Market Updates Bitcoin Information

AXS was buying and selling decrease on Wednesday, after it was reported that the Axie Infinity community Ronin suffered a breach, resulting in hackers stealing over $620 million from the blockchain-based buying and selling and battling sport. This got here as ZIL was buying and selling by over 50% greater throughout the session.

Zilliqa (ZIL)

Zilliqa (ZIL) was up by over 50% in at present’s session, as merchants continued to react to the information that Zilliqa was partnering with Agora.

Following the information, ZIL rallied by over 200% up to now week, with at present’s beneficial properties seeing costs hit an intraday excessive of $0.1604.

At present’s peak comes as ZIL/USD broke previous its resistance degree of $0.1080, pushing costs to a brand new document excessive within the course of.

ZIL/USD – Day by day Chart

Wanting on the chart, these latest highs have come as costs moved away from the help degree of $0.0418 on March 21.

Since then we have now seen a streak of upper highs from ZIL, with worth energy presently monitoring off the charts.

As of writing, the 14-day RSI is presently at a studying of 89.17, which is considerably above its earlier excessive of 65.

This may very well be inviting to bears on the lookout for a reversal in costs.

Solana (SOL)

AAVE, HNT, and VET had been all large movers at present, with most of those climbing by over 10%, nevertheless probably the most notable secondary mover at present was SOL.

SOL/USD climbed to an intraday excessive of $124.29 throughout at present’s buying and selling session, because it changed LUNA because the world’s eighth-largest cryptocurrency.

This transfer from SOL got here as the worth broke out of the long-term resistance degree at $113.70, hitting a six-week excessive within the course of.

SOL/USD – Day by day Chart

The surge in worth on Wednesday, which took costs to their highest since February 7, got here because the 14-day RSI moved previous its long-term ceiling.

Wanting on the chart, the resistance of 65.9 on the indicator was damaged for the primary time since November and now tracks at 74.4.

With worth energy now clearly overbought, we could also be set for some consolidation, that doubtlessly results in a reversal in worth, as bulls exit, and bears look to enter.

Will SOL stay above LUNA for the rest of this week? Tell us your ideas within the feedback.'
Eliman Dambell

Eliman brings a diversified perspective to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss triggered or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

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