Terra (Luna) was one of this week’s biggest crypto losers, falling by as much as 20% during Friday’s session. Declines in terra came as cosmos (ATOM) also had a double-digit decline.
The biggest winners
Although the crypto markets are mostly trading in the red, the symbol (XYM) was one of the few exceptions to climb higher today.
XYM rose to an intraday high of $0.1728 during Friday’s session, rising from an earlier low of $0.155.
This move began when the symbol surged from its support at $0.146, an area where it has been trading for most of the week.
As of writing, XYM was trading over 7% higher, with price action continuing to gain strength, after a recent breakout from a key RSI resistance point.
The 14-day RSI indicator currently sits at 44, after surging from the 35 level, which was a historical point of price uncertainty.
Traders will likely now wait to see if symbol could reach resistance of $0.189.
The biggest losers
Another day, and the cosmos (ATOM) was trading lower again, dropping as much as 10% in the process. Despite this, it was terra (LUNA) that was Friday’s bear of the day, and was down around 16% at the time of writing.
The move saw LUNA/USD extend its recent selloff, hitting an intraday low of $47.72, following an earlier high of $58.20.
Looking at the chart below, the decline started after a break of the lows of $59.75 leading to further declines, which now sees the formation of new support at $47.95.
In addition to the breakout, prices are now heavily oversold, which is one of the only indications that the bearish pressure could be fading.
