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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.
$EGLD, $SOL, $ARB - 1"> 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 $18 million figure on Oct. 30.
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Solana ($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.
$EGLD, $SOL, $ARB - 2"> $SOL surged to a yearly high of $45.05 on Nov. 1, marking its highest price since May 2022. Following this rally, $SOL met stern opposition from the bears, leading to a subsequent price decline. The asset eventually dropped below $40, collapsing to $38.34 two days later.
A comeback saw Solana recover the $40 psychological threshold on Nov. 4. The asset has continued to consolidate since then, but holds firm above $41. Solana’s momentum has slowed, with a mere 0.8% gain in the last 24 hours, as it changes hands at $41.78.
Arbitrum ($ARB)
Arbitrum started the week below the pivotal $1 point, but its favorable price movements have seen it reclaim the price level. Like Solana, $ARB observed several erratic price movements this week, with a battle of supremacy between the bears and bulls taking shape at the start of the week.
Amid this sustained battle, $ARB traded between 93 cents and 97 cents, with each camp unable to exert dominance. The bulls eventually took over on Nov. 1, pushing the asset above the much-coveted $1 level for the first time since August. This victory was short-lived, as $ARB corrected these gains two days later, dropping back below $1.
A resurgence of bullish momentum came up shortly after, with the bulls demonstrating more resilience this time. Arbitrum has since then rallied to $1.10, up 19.1% over the last seven days.
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