SUSHI, XLM, WAVES Record Price Surge Despite Pandemic Influenced Market Decline

SUSHI, XLM, WAVES Record Price Surge Despite Pandemic Influenced Market Decline

This week has been filled with mixed feelings for Blockchain investors who have seen prices plummet and fallen all in the same week. Bitcoin(BTC) hit an unprecedented price of $19,500 before Wednesday midnight free fall, which has seen the leading crypto giant go down to as low as $17,000.

Ethereum(ETH), which also hit a record-breaking height of $600, was not spared from this “price-demic.” XRP, Litecoin(LTC), and a few other coins have followed suit, losing a double-digit margin with their prices. With the ups and downs experienced, Lumen(XLM), Waves, and SUSHI have all seen their value rise.

SUSHI and WAVES leads crypto market bullish run

The SUSHI token, whose price has seen it plummet above 30% in the last 24hours, moved from about $1.23 to about $1.47 in today’s trading. The technical indicators for SUSHI are pointing towards a buy signal. Investors and analysts hope that the Sushi token, one of the most sold-out coins during the DeFi correction of October 2020, can rise to at least $2 before 2021.

The current resistance level currently stands at about $1.35. The 24 hour high/low stands at about $1.5/$1.35, respectively. Sushiswap is currently the most active market trading the currency, which market capitalization stands at about $218,321,557, ranking it as 65 amongst other cryptocurrencies.

Waves, a blockchain platform founded by Sasha Ivanov in 2016, is considered the most expanding project in the cryptocurrency platform. The cryptocurrency, which has gained at an average of 1.5% weekly, has witnessed at least a 6% surge in prices over the last 24hours. The trading volume in the last 24-hour is $99,607,132 and currently trades at $6.41 in today’s prices. The resistance level is presently at around $6.99,

with support levels formed at $5.55. Waves market capitalization stands at about $641,888,646, ranks it at 38 in the cryptocurrency market. Analysts believe that Waves will likely hit the $8 mark by December and suggest that its technical indicators point towards a buying season.

XLM records price surge after weeks of stagnation

Lumen(XLM) is the native cryptocurrency for Stellar, an open-source blockchain system. Its prices were stagnant for a while before it witnessed a push in prices that plummeted to about $0.2241. The prices fluctuated and dropped to about $0.15, unfortunately. The cryptocurrency is heading towards its yearly target as it currently trades at about $0.22. This represented a gain of about 13% despite the drop in its trading volume.

The cryptocurrency resistance level lies around $0.232, and indicators are expectedly pointing towards a buy signal. With a trading volume of about $2,212,657,792 in the last 24hours and a market capitalization of $4,424,724,349, the cryptocurrency currently ranks as 7 in the blockchain space.

With a price drop currently ravaging the cryptocurrency space, Analyst expects that this is just a fluke and expects most, if not all, to join XLM, Waves, and Sushi, who look to close the weeks on high. Analyst project that December will be the most important month for the Blockchain space and investors at large.

David Pražák