Crypto assets such as MultiversX (EGLD), Solana (SOL) and Arbitrum (ARB) stood out this week, recording impressive gains, with EGLD witnessing a substantial rally.
MultiversX (EGLD)
MultiversX sits among the top gainers of the week, having rallied by a massive 69.4% over the past seven days. Notably, the asset began the week with consolidation, as it continued to trade underneath the $34 territory but hedged against any drops below $29.
Trade volume surged from $18 million at the start of the week to an average of $28 million as the week progressed. Notably, EGLD’s started showing signs of bullish momentum on Nov. 1 amid a favorable market led by Bitcoin (BTC).
Despite the bullishness, EGLD remained at the mercy of the bears, facing fierce resistance at $35. The asset’s momentum picked up today, leading to an impressive breakout of the $35 threshold. EGLD eventually surged to $50 before witnessing a roadblock. The last time the asset saw $50 was in February.
Attempts from the bears to leverage the roadblock for a full-blown correction have failed, as EGLD holds steady above the $45 territory. EGLD currently changes hands at $45.69, up 35.4% over the past 24 hours. Volume has spiked to $698 million, representing a 3,777% increase from the $18 million figure on Oct. 30.
Solana (SOL)
Solana secured a spot among notable assets this week, recording a massive 28.9% increase. Unlike EGLD, Solana’s price trajectories this week were rather erratic, characterized by a series of swings and lows.
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Author: Wahid Pessarlay
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