The most noteworthy assets this week: EGLD, SOL, ARB

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Cryptoassets such as MultiversX (EGLD), Solana (SOL), and Arbitrum (ARB) stood out this week, recording impressive gains, with EGLD rising sharply.

MultiversX (EGLD)

MultiversX was one of the week’s biggest gainers, rising a whopping 69.4% over the past seven days. Notably, the asset started the week consolidating, continuing to trade below $34 but hedging against losses below $29.

The most noteworthy assets this week: EGLD, SOL, ARB - 1
EGLD Price – November 5th | Source: Trading Views

As the week progressed, trading volume surged from $18 million at the start of the week to an average of $28 million. Notably, EGLD started showing signs of bullish momentum on November 1, amid a favorable market led by Bitcoin (BTC).

Despite the bullishness, EGLD remains at the mercy of bears and faces strong resistance at $35. The asset has gained momentum today, impressively breaking above the $35 mark. EGLD eventually surged to $50 before hitting a roadblock. The asset last reached $50 in February.

The attempts by the bears to exploit the barriers for a full correction failed as EGLD settled above $45. EGLD is currently changing hands at $45.69, up 35.4% in the past 24 hours. Volume has soared to $698 million, a 3,777% increase from $18 million on October 30.

Solana(SOL)

Solana has found its place among the well-known assets this week, rising as much as 28.9%. Unlike EGLD, Solana’s price trajectory this week has been quite volatile, showing a series of swings and lows.

The most noteworthy assets this week: EGLD, SOL, ARB - 2
SOL Price – November 5th | Source: Trading Views

On November 1, SOL surged to a yearly high of $45.05, marking its highest price since May 2022. SOL faced backlash from bears following this rise, leading to a subsequent price drop. The asset eventually fell below $40, falling to $38.34 two days later.

Solana made a comeback on November 4, regaining the psychological $40 mark. Since then, the asset has continued to consolidate but held above $41. Solana’s momentum has slowed, rising just 0.8% in the past 24 hours, changing hands at $41.78.

Arbitration (ARB)

Arbitrum started the week below the key $1 point, but its favorable price action has brought it back to price levels. Like Solana, ARB has observed several erratic price moves this week, with a battle for supremacy between bears and bulls taking shape early in the week.

The most noteworthy assets this week: EGLD, SOL, ARB - 3
ARB Price – November 5th | Source: Trading Views

ARB is trading between 93 cents and 97 cents in the ongoing battle, with neither camp able to assert dominance. Bulls finally gained the upper hand on November 1, pushing the asset above the coveted $1 level for the first time since August. The victory was short-lived, as ARB corrected those gains two days later, falling back below $1.

Soon after, bullish momentum returned, with bulls showing more resilience this time. Arbitrum has since risen to $1.10, up 19.1% in the past seven days.


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