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XRP Could Experience Nearly 10% Surge Upon Immediate Break Of These Key Levels

XRP has halted its decline by rising above the $0.60 price level. In the past 24 hours, its value increased by nearly 6%. However, XRP hasn’t yet shown significant gains on the weekly chart.

The technical analysis suggests a positive trend for XRP, but there’s a chance that the coin could face more downward movement in the upcoming trading sessions.

If buyers push the price higher, XRP might maintain its position above the current price level. Moreover, breaking through two crucial resistance levels could lead to a potential surge of over 9%. For XRP to keep rising, the broader market must provide support, particularly Bitcoin’s movement beyond the $30,000 zone.

If buying momentum doesn’t recover, XRP might experience a decline and drop below its local support line. The increasing market capitalization of XRP indicates active buyer participation at the present moment.

XRP Price Analysis: One-Day Chart

XRP

At the time of writing, the altcoin was priced at $0.65. This value has presented significant resistance for the altcoin in recent weeks. The upcoming trading sessions hold critical importance as XRP must effectively surpass this level.

Failing to achieve this could trigger a subsequent decline in the price. Furthermore, overhead resistance levels are $0.67, followed by $0.69. Should XRP successfully breach the $0.69 mark, the altcoin might trade around the $0.72 range. Conversely, a local support level is positioned at $0.63.

Should the price dip below this threshold, it could potentially descend to $0.60, ultimately pausing the overall bullish sentiment.

Technical Analysis

XRP

For demand, XRP’s chart indicates its current state as overbought. The Relative Strength Index has reached 70, indicating buyers currently influence the price direction. This could imply the potential for a price correction in the upcoming trading sessions.

While such a correction might not be prolonged, any drop in XRP’s value below $0.63 might reduce buyer activity.

The asset’s price remained positioned above the 20-Simple Moving Average line. This observation signifies an increasing demand and emphasizes buyers’ role in steering the market’s price dynamics.

XRP

Furthermore, the altcoin has generated buy signals in response to the rising demand. These buy signals are represented by the emergence of green histograms in the Moving Average Convergence Divergence indicator, signaling a bullish sentiment.

Additionally, the Directional Movement Index presents a positive outlook, with the +DI (blue) line positioned above the -DI (orange) line, indicating a favorable price trajectory.

Moreover, the Average Directional Index (Red) has crossed the 40 mark, implying an increase in the strength of the price trend. This development suggests XRP could yield additional gains in the near-term trading sessions.

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Solana Recovery: Bulls Have To Keep Shielding Against Price Dip To Key Level

The Solana price exhibited a bullish trend during the recent trading session, pushing it beyond the $24 mark. It surpassed a key resistance hindering its progress for over a week. Within the last 24 hours, SOL saw a rise of around 6%, with a similar price increase visible on the weekly chart.

From a technical standpoint, Solana’s outlook appears optimistic following the recent price shift. Both demand and accumulation have expanded on the daily chart, reflecting positive sentiment.

Despite bullishness, the speed of SOL’s recovery depends on its ability to swiftly overcome the immediate barrier, which had previously acted as a tough resistance level.

Additionally, the bulls must ensure that the price remains above the local support, as a drop below would invalidate the bullish thesis. Furthermore, Solana’s market capitalization has improved, indicating a gradual inflow of buyers into the market now.

Solana Price Analysis: One-Day Chart

Solana

Trading at $24.84, SOL has successfully breached the $23 resistance level, marking a growth of nearly 6%. This upward movement has reignited buyer interest, yet for Solana’s recovery to persist, it must exceed the $25 threshold. Breaking past this point would enable the bulls to advance by an additional 8%, with a potential target of $27.

Conversely, the primary support levels for this altcoin are situated at $24 and subsequently at $22. A drop below $22 would revive bearish momentum, possibly prolonging a bearish phase.

Technical Analysis

Solana

As Solana surpassed the $23 level, there was a surge in demand for the coin, leading to an overbought condition. The Relative Strength Index rested just below the 70 mark, indicating a predominance of buyers in the market.

Similarly, SOL maintained its position above the 20-Simple Moving Average line, indicating buyers were steering the price momentum. Notably, Solana was also above the 200-SMA (green) line, signifying a state of bullishness.

Despite its bullish trajectory, the potential for a price pullback cannot be dismissed, considering that SOL was still near the overbought zone.

Solana

Aligned with the heightened demand, SOL has generated buy signals on the chart. The Moving Average Convergence Divergence (MACD), responsible for gauging price momentum and shifts, has given rise to these green histograms.

These histograms correspond to buy signals, suggesting that the price might experience a rise before a corrective phase ensues.

The Bollinger Bands, reflecting volatility, displayed significant widening, implying potential price fluctuations. However, these bands have also curved and ascended, pointing to an impending northward movement in the upcoming trading sessions.

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Ethereum Crosses $1,800, But How Long Will Bullish Revival Last?

In recent weeks, Ethereum has demonstrated a downtrend in shorter timeframes, where the bulls struggled to maintain the critical $1900 support zone. This allowed the bears to gain dominance. However, there appears to be a change in price sentiment during recent trading sessions.

On the daily chart, ETH experienced a 2% climb. A positive movement is observable on the weekly chart, although it remains relatively modest.

Despite the upward movement, there is a potential risk of waning bullish momentum if Ethereum fails to sustain its price above the immediate trading zone. From a technical standpoint, the altcoin is leaning toward bullishness, with increased buying strength apparent in recent trading sessions.

Both accumulation and demand have played a role in this positive shift. Furthermore, Ethereum’s market capitalization has grown, indicating heightened demand during the past trading sessions.

Ethereum

At the time of writing, ETH was priced at $1,840. It is currently nearing its immediate resistance level of $1,850, which has previously functioned as a liquidity pocket.

Approaching this level might trigger a price decrease. However, if the altcoin successfully surpasses $1,850 and establishes a trading position above the subsequent resistance at $1,870, it could signal a more prolonged period of bullish activity.

On the flip side, the support level is $1,780, followed by another at $1,760. Falling within this range might lead to further downward movement in the price.

The trading volume of ETH in the previous session was lower. However, the fact that it was in the green indicates that buyers were gradually entering the market.

Technical Analysis

Ethereum

Regarding buyer activity, there has been increased demand for the altcoin following a notable dip within the past 48 hours. The Relative Strength Index (RSI) climbed above the 60 mark, suggesting a revival for the altcoin and signaling buyer engagement surpassed seller activity.

Furthermore, the price remained above the 20-Simple Moving Average (SMA) line, indicating that buyers were the driving force behind the market’s price momentum.

Another observation is that ETH remained above the 200-Simple Moving Average (SMA) line (green). This suggests a substantial price surge could be anticipated before the bullish momentum wanes.

Ethereum

Correlating with the increase in demand, ETH exhibited buy signals on the daily chart. The Moving Average Convergence Divergence (MACD), which signifies price momentum and potential shifts, showed green histograms aligned with buy signals.

These buy signals also suggest a potential upward movement in the price over the subsequent immediate trading sessions.

Additionally, the Bollinger Bands appeared wide from each other, indicating the likelihood of price volatility, although not overly significant as the bands mainly remained parallel. These parallel bands coincide with the immediate resistance level.

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Solana Price Could Surge To $30 Upon Overcoming This Resistance

The Solana price experienced notable gains in mid-June, but a recent correction phase has pulled it down to $22, which has found strong support. The technical outlook currently leans towards the bears, suggesting a potential slight dip before a possible turnaround.

The altcoin attempted to rise from the support level in the past week, but the bullish momentum waned. Despite the chance of a rally due to a demand zone below $22, a new resistance at the $25 level may pose a challenge.

As Bitcoin slipped into the $29,000 range, other altcoins also faced downward pressure on their charts. For SOL to reverse its trend, overall market strength is vital. The falling market capitalization of SOL indicates continued control by sellers over the price.

Solana Price Analysis: One-Day Chart

Solana

At the time of writing, SOL was trading at $22.80, demonstrating stability around a significant support zone. Although a drop from this level might attract buyers, there is a possibility that the altcoin could slip below the $20 mark. If buyers step in, the next resistance levels would be $23 and $25.

Once the $25 price mark is breached, Solana could aim for $30, signifying a potential 36% rally. However, SOL must avoid falling below $20, as that would nullify any bullish revival. In the last session, the volume of SOL traded declined, suggesting a decrease in buying strength.

Technical Analysis

Solana

SOL showed increased selling pressure, indicating buyers had not yet entered the positive zone. The Relative Strength Index remained below the half-line, stressing the lack of bullish momentum as sellers outnumbered buyers at the time of observation.

Moreover, SOL was positioned below the 20-Simple Moving Average line, signifying a lack of demand at this level and further suggesting that sellers had control over the price momentum in the market. The upcoming trading sessions hold significance for the coin as buyers will determine the altcoin’s future direction.

Solana

The altcoin’s low demand has led to the formation of sell signals. This indicated the continued dominance of bears in the market. However, it’s worth noting that the size of these sell signals is gradually decreasing.

The Moving Average Convergence Divergence (MACD) indicator, which measures price momentum and trend changes, showed red histograms. This reading was linked to sell signals. Despite this, the sell signals were relatively short, suggesting that the altcoin might see some buying strength in the upcoming trading sessions.

On the other hand, the Directional Movement Index (DMI), which indicates price direction, remained negative. The -DI line (orange) was positioned above the +DI line (blue).

Conversely, the Average Moving Index was above the 40 mark, indicating that a change in price direction could be expected in the next trading sessions.

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Cup And Handle Pattern Emerges In XRP Chart: What Does It Mean?

Despite a favorable ruling as a non-security token, XRP had experienced a correction for over a week and a half, losing bullish momentum after reaching a yearly high of $0.94. It is trading above the $0.70 mark, with the $0.66 level acting as a support.

Over the past 24 hours, XRP has exhibited sideways trading yet shows potential signs of price appreciation. The technical analysis indicates a leaning toward bullish sentiment, with positive buying strength, demand, and accumulation.

Even though the emergence of a pattern suggesting further bullishness is possible, it remains critical for XRP to maintain support at $0.66 and $0.56 levels.

Additionally, breaking through critical resistance levels is essential for the bulls to retain market control. Encouragingly, the altcoin’s market capitalization has increased, signaling a positive development for the altcoin.

XRP Price Analysis: One-Day Chart

XRP

When writing, the altcoin XRP was trading at $0.71. The XRP price chart shows the formation of a bullish reversal pattern known as a cup and handle.

Despite this positive pattern, the coin’s true bullish potential will be determined by its ability to surpass two significant resistance levels at $0.76 and $0.84, respectively.

It’s worth noting that after reaching a yearly high of $0.94, XRP encountered resistance at $0.84 twice. On the downside, if there is a decline from the current price level, XRP may find support at $0.66 and then at $0.56.

Technical Analysis

XRP

In recent trading sessions, the buying strength of the altcoin has shown consistency. The Relative Strength Index (RSI) has held steady around the 60-mark over the past few weeks, indicating buyers have maintained control of the price action.

This positive signal suggests that the coin will attract more buyers if the price remains above the $0.66 level. Moreover, the price of XRP has remained above the 20-Simple Moving Average (SMA) line, indicating buoyant demand and confirming that buyers are actively driving the price momentum in the market.

XRP

With the surge in purchasing power, the altcoin exhibits a decline in sell signals. The Moving Average Convergence Divergence (MACD) reflects changes in price momentum.

Red signal bars appear below the half-line, indicating decreased sell signals. Meanwhile, the Bollinger Bands suggest a likelihood of price volatility and fluctuations in the upcoming trading sessions. The considerable widening of the bands indicates the potential for significant price fluctuation shortly.

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Bullish Price Formation For Solana – Is $30 Around The Corner?

Solana (SOL) has experienced a notable downturn recently, unable to sustain itself above the $32 mark. The altcoin remains below a strong resistance level, but a potential breakthrough could lead to a 20% price appreciation.

In the last 24 hours, SOL saw a modest surge of 2.2%, but its performance on the weekly chart shows minimal upward movement. Despite the challenges, there are two essential bullish signals to consider: the morning star reversal sign and a bullish pennant formation.

These signals suggest that if SOL surpasses the immediate resistance, the coin might aim for a rally back to levels it reached two weeks ago. In the broader market context, Bitcoin’s re-entry into the $29,000 price level has caused retracements in altcoins on their respective charts.

Therefore, for SOL to surpass the immediate resistance, it will require strong support from the broader market. The market capitalization of SOL has also experienced a decline, indicating a slight weakening in buying strength.

Solana Price Analysis: One-Day Chart

Solana

At the time of writing, SOL was valued at $24.90. The coin tried to reach the $32 level, but the bulls faced resistance and could not sustain it. Subsequently, SOL has been striving to breach the immediate resistance level at $26.

A successful move above $26 could propel the coin’s value to $28. It may encounter a potential price ceiling at that level. If this level is surpassed, the coin could rally further to reach $30.

On the other hand, there is a downside risk. If SOL fails to hold above the $26 level, it might face a decline to $21. A further fall below this mark could result in a drop to $18. The price movement remains crucial for SOL’s future trajectory.

Technical Analysis

Solana

The market exhibited bullish signals, with the bulls taking control despite a slight dip in buying strength. The Relative Strength Index (RSI) indicated buyers dominated the market, as it remained above the half-line.

Moreover, the price movement above the 20-Simple Moving Average (SMA) line highlighted the influence of buyers in driving the price momentum.

Should the price maintain its position above the 20-SMA, increased demand is anticipated to propel the asset’s value above the immediate resistance line. This could potentially lead to further bullish movement in the market.

Solana

Despite the continued dominance of buyers, SOL presented sell signals on the daily chart. The Moving Average Convergence Divergence (MACD) formed red signal bars, suggesting a potential slight dip in the price before any attempt to breach the $26 mark. This indicator reflects the price momentum and its shift.

Additionally, the Chaikin Money Flow (CMF) was below the half-line, indicating that capital inflows were lower than capital outflows.

This observation suggests a potential decrease in buying pressure at the given moment. The upcoming trading sessions hold significance for the altcoin’s price movement, as the broader market may influence the further trajectory of SOL.

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Polkadot Experiences Correction After Reaching $5.54: What’s Next In Store?

Yesterday, Polkadot (DOT) reached its weekly high at $5.54 but subsequently started a corrective phase. In the past 24 hours, DOT has managed to retain 1.8% of its overall gains during that period. On the weekly chart, DOT exhibited a 3% price increase.

However, the technical analysis suggests that bears currently have the upper hand, with buying strength and demand remaining low. Despite this, if Bitcoin continues its upward movement toward the $28,000 level, several altcoins, including DOT, may also experience positive price action.

On the flip side, if sellers dominate, DOT could break below its crucial support level, strengthening the bearish sentiment in the upcoming trading sessions. The decline in the DOT market capitalization further indicates the prevailing low buying strength at the present moment.

Polkadot Price Analysis: One-Day Chart

Polkadot

At the time of writing, DOT was trading at $5.47. Following a rejection at the $5.54 level, the altcoin has experienced a retracement on its chart.

The overhead resistance for DOT is currently positioned at $5.58. If the altcoin manages to surpass this resistance level, it could potentially reach $5.80. Despite the price correction, DOT has thus far maintained a position above the crucial support level of $5.40.

However, if sellers gain momentum, the price may drop below the vital support level of $5.40 and trade around $5.30. The trading volume of DOT in the previous session was bearish, indicating a decline in demand driven by the bears on the daily chart.

Technical Analysis

Polkadot

Throughout the month of May, DOT has experienced minimal demand on its chart. Although the Relative Strength Index (RSI) displayed signs of recovery initially, the depreciation of DOT led to a decrease in demand.

This suggests that buying strength did not enter the positive zone. Furthermore, the DOT price moved below the 20-Simple Moving Average (SMA) line, indicating that sellers have been driving the price momentum in the market.

If there is a slight increase in demand in the upcoming trading sessions, DOT may attempt to trade above the 20-SMA line, providing an opportunity for the bulls to regain control over the price.

Polkadot

Although demand for Polkadot has declined, the chart still displays buy signals, suggesting the potential for a price increase. These buy signals are accompanied by an increase in demand, indicating a positive outlook.

The Moving Average Convergence Divergence (MACD) indicator, which reflects price momentum and trend changes, shows green histograms tied to buy signals.

Additionally, the Bollinger Bands, which measure price volatility and fluctuation, are constricted, suggesting that Polkadot may experience significant volatility in the upcoming trading sessions.

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Dogecoin Bounces Off $0.070 Mark, Awaits Breakthrough of Crucial Hurdle

In recent trading sessions, the price of Dogecoin has experienced an upward trend, surpassing a significant resistance level. Over the past 24 hours, DOGE recorded a 1.2% increase, and within the last week, the coin appreciated by 2%.

The technical analysis suggests the possibility of upcoming bullish momentum as buying strength attempts to recover. However, demand and accumulation indicators have not yet entered the positive zone.

To establish bullish control in subsequent sessions, DOGE must surpass a crucial resistance level. The broader market’s recovery, including Bitcoin’s rise above $27,500, may also contribute to the DOGE upward price movement.

The upcoming trading sessions will be crucial in determining whether bulls or bears will dictate the price action. However, the decline in the Dogecoin market capitalization indicates current seller dominance over the asset.

Dogecoin Price Analysis: One-Day Chart

Dogecoin

At the time of writing, DOGE was trading at $0.073 and has shown gradual gains since surpassing the $0.070 resistance line. However, a potential price correction could occur if it fails to breach its overhead resistance.

The immediate resistance level for DOGE is set at $0.075. Surpassing this level would likely trigger a rally toward the $0.078 mark, strengthening the position of the bulls.

Conversely, if DOGE fails to hold its current price level, it may decline to $0.071 and potentially drop below $0.070. The recent trading session indicated weak buying strength, as the amount of Dogecoin traded was in the red.

Technical Analysis

Dogecoin

Throughout May and even April, Dogecoin faced challenges in attracting positive demand. At the current moment, buying strength remains low despite the ongoing recovery.

The Relative Strength Index (RSI) indicates that buyers still lack confidence in the asset, as it is below the half-line. Furthermore, the DOGE price has fallen below the 20-Simple Moving Average (SMA) line, indicating that sellers are driving the price momentum in the market.

However, if Dogecoin manages to surpass the $0.070 price level, it will move above the 20-SMA line, indicating increased demand and potentially reversing the current trend.

Dogecoin

On the one-day chart, DOGE exhibited diminishing buy signals in line with other technical indicators. The Moving Average Convergence Divergence (MACD), which indicates price momentum and trend reversal, showed declining green histograms associated with buy signals.

Additionally, the Bollinger Bands, which reflect price volatility and fluctuation, displayed significant narrowing. This suggests that DOGE may experience heightened price volatility and fluctuations in the upcoming trading sessions.

Currently, DOGE is positioned at a critical price level, and the next trading sessions will determine whether the price will break out to the upside or downside.

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Ethereum Correction: Key Level Break Can Shift Price Course

The Ethereum price has shown attempts at recovery during recent trading sessions. Over the past 24 hours, the price of this altcoin has experienced a modest increase of nearly 2%. However, when observing the weekly chart, the price has only managed to appreciate by 3%.

In terms of technical analysis, the outlook has favored the bulls, with buying strength exhibiting an uptick. Additionally, both demand and accumulation have displayed positive changes. As the price began to rise, ETH successfully surpassed a significant resistance level, crossing the $1,790 mark.

This breakthrough has enabled the bulls to gain control of the price action. Nevertheless, an important hurdle still remains to be overcome for ETH to witness a substantial rally. Notably, with the Bitcoin price demonstrating uncertain price action, several major altcoins have struggled to surpass their key price resistance levels.

As BTC surpassed $27,000, the broader market’s increased strength might also contribute to the Ethereum upward price movement on its chart. The market capitalization of Ethereum witnessed an increase in the last trading session, indicating a return of buyers to the market.

Ethereum Price Analysis: One-Day Chart

Ethereum

At the time of writing, ETH was priced at $1,840. The altcoin has exhibited gradual appreciation following its breakthrough of the $1,790 resistance level.

However, ETH has experienced intermittent corrections, and in order to halt this pattern, it needs to surpass the overhead price ceiling of $1,870.

Surmounting this level would pave the way for ETH to trade near $1,900. Conversely, a drop from this level would bring ETH to $1,790 and subsequently to $1,740. The volume of ETH traded in the last session appeared positive, indicating reduced selling pressure on the chart.

Technical Analysis

Ethereum

Following ETH’s breakthrough of the $1,840 price level, buyers made further attempts to reenter the market. This resulted in a shift in demand into the positive zone.

Additionally, the Relative Strength Index (RSI) surged past the half-line, signaling that buyers outnumbered sellers in the market.

In line with this, the ETH price also moved above the 20-Simple Moving Average (SMA) line, indicating that buyers were steering the price momentum in the market.

Ethereum

In addition to the aforementioned technical indicators, ETH displayed further buy signals. The Moving Average Convergence Divergence (MACD) indicated the price momentum and reversals through the formation of green histograms, which were growing in size.

These expanding histograms aligned with buy signals for Ethereum. Furthermore, the Chaikin Money Flow (CMF) indicator was positive, as it remained above the half-line. This indicated that capital inflows outweighed capital outflows at the time of observation, emphasizing positive market sentiment for ETH.

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XRP Revisits $0.47 – What Can Be Expected For Short-Term Price Movement?

XRP has shown recent gains on its price chart, allowing the altcoin to surpass a significant resistance level. Although the 1% increase over the past 24 hours may not be substantial, it has helped maintain bullish momentum. However, on a weekly chart, XRP has experienced minimal movement.

Despite this, the technical outlook for the coin indicates bullish strength in the market. Buying strength has risen, and both demand and accumulation have turned positive, contributing to this technical outlook. The performance of XRP on its chart may be influenced by the movement of Bitcoin.

If Bitcoin continues to appreciate and reaches the $27,000 range, XRP may attempt to break through its immediate resistance. With buying strength recovering and demand potentially supporting the bulls, their position in the market could strengthen.

However, if the price remains stagnant at its current level, demand might start to decline, causing the bulls to lose momentum. The increase in the altcoin’s market capitalization over the past 24 hours suggests that buyers have gained control over sellers.

XRP Price Analysis: One-Day Chart

XRP

At the time of writing, XRP was trading at $0.47. In recent trading sessions, the altcoin successfully surpassed the resistance level of $0.45. Sustaining this positive momentum, the next resistance level for XRP is expected to be at $0.48.

If this level is cleared, it could fuel a rally towards the $0.50 mark. However, if the price retreats from its current level, it may invite bearish pressure, potentially causing the price to settle around $0.43.

Notably, the volume of XRP traded in the last session was relatively high, indicating a lower selling strength in the market.

Technical Analysis

During the recent trading sessions, the altcoin not only made progress in its price movement but also saw a notable recovery in buying strength. The Relative Strength Index (RSI) being above the half-line suggests that buyers have taken control of the price action in the market.

Additionally, XRP moved above the 20-Simple Moving Average (SMA) line, indicating that buyers were driving the price momentum. This shift in momentum was supported by an increased demand for XRP in the market.

XRP

In line with other technical indicators, the altcoin has started to exhibit buy signals on the chart. The Moving Average Convergence Divergence (MACD), a tool used to assess price momentum and potential reversals, displayed green histograms associated with buy signals. This suggests that there is a possibility of the altcoin attempting to break through its overhead resistance level.

Furthermore, the Bollinger Bands, which indicate price volatility and fluctuations, remained parallel and wide. This indicates that the XRP price action is not expected to be constricted or range-bound.

The upper band of the Bollinger Bands intersected at $0.48, highlighting this level as an important resistance level or price ceiling for the altcoin to overcome.

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Polkadot Extends Decline, Can Bulls Defend $5.15 Support?

The Polkadot price analysis continues to indicate a bearish outlook as the market undergoes a notable decline. Within the past 24 hours, the asset’s price experienced a slight decline, demonstrating sideways movement under the influence of bearish sentiment.

On a weekly timeframe, there has been limited movement in the price of DOT. In terms of technical indicators, DOT has exhibited bearish strength, with low buying pressure. Both demand and accumulation levels have decreased based on the daily chart.

Given the indecisiveness in Bitcoin’s chart, many altcoins, including DOT, have either remained constrained under immediate resistance levels or have entered consolidation phases. It is crucial for DOT to maintain a price level above its immediate support to avoid the possibility of another substantial decline in upcoming trading sessions.

If selling pressure intensifies, there is a risk of the altcoin breaking below its crucial support level. The declining market capitalization of Polkadot indicates that sellers are still exerting control over the asset.

Polkadot Price Analysis: One-Day Chart

Polkadot

As of the current writing, DOT is being traded at $5.29, with Polkadot hovering near its critical support level of $5.15. Should the price fall below this level, it may further decline to $5. On the upside, a significant resistance level is observed at $5.40.

If DOT bulls manage to surpass this resistance, it could potentially trigger a rally towards $5.71, indicating a 6% appreciation.

Further progress could then lead the price into the $6 range. Notably, the trading volume of DOT in the last session was relatively low. This suggested that buying strength was weaker compared to selling pressure.

Technical Analysis

Polkadot

During the months of April and May, the demand for DOT remained relatively weak. Analysis shows that the Relative Strength Index (RSI) remained below the 40-mark, indicating that selling pressure outweighed buying pressure in the market.

Additionally, DOT remained below the 20-Simple Moving Average (SMA), further affirming the dominance of sellers in driving the price momentum.

However, if DOT manages to surpass the $5.30 mark, it has the potential to climb above the 20-SMA line. This could potentially attract buyers back into the market and shift the overall sentiment in a more positive direction.

Polkadot

As demand for DOT declined, the altcoin exhibited decreasing buy signals on its one-day chart. The Moving Average Convergence Divergence (MACD), which represents price momentum and trend reversal, displayed declining green histograms, indicating a weak buy signal for DOT.

Furthermore, the Bollinger Bands, which illustrate price volatility and fluctuations, exhibited constriction, indicating a range-bound movement.

The upcoming trading sessions hold importance for DOT as they will determine whether the price breaks out above or below the crucial support line.

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Ethereum Encounters Resistance At Critical Level, Vital Trading Levels to Monitor

Ethereum started the week with a promising performance, experiencing a gain of over 3%. However, the bullish momentum was short-lived as the altcoin failed to sustain its position above a key resistance level. Within the past 24 hours, ETH’s market value has declined by nearly 3%.

Throughout the week, the ETH price has shown limited progress, with the bears dominating the price movement. The altcoin’s technical outlook indicates a decline in buying strength, accompanied by low demand and accumulation on the daily chart.

To prevent further strengthening of the bears, it is crucial for Ethereum to surpass its immediate resistance in the upcoming trading sessions.

Failure to do so may lead to additional pressure from sellers, potentially causing Ethereum to breach its immediate support level and experience a significant loss in value during future trading sessions. Additionally, the fall in the ETH market capitalization suggests an increase in selling strength, as observed on the daily chart.

Ethereum Price Analysis: One-Day Chart

Ethereum

At the time of writing, the trading price of ETH was $1790. Despite attempting to trade within the $1800 price range, the altcoin encountered selling pressure, resulting in its depreciation. The current overhead resistance for Ethereum is $1810. If the altcoin surpasses this resistance level, it has the potential to trigger a rally in its price.

On the other hand, if the present price level experiences a decline, Ethereum is likely to decline further to $1750 before eventually reaching the $1700 price mark. The recent session saw a decrease in the volume of Ethereum traded, indicated by the red colour, indicating a weak buying strength.

Technical Analysis

Ethereum

Throughout this month, Ethereum experienced a decline in demand, resulting in reduced buying strength. The Relative Strength Index (RSI) dropped below the midpoint line, suggesting a decrease in demand and an increase in selling pressure on the chart.

Additionally, the price of Ethereum fell below the 20-Simple Moving Average (SMA), indicating that sellers were dominating the market’s price momentum.

Given that Bitcoin’s price movement remains uncertain, several altcoins, including Ethereum, have followed a similar price trajectory. However, if Ethereum gains broader market strength, there is a possibility that demand could return, causing ETH to surpass the 20-SMA line and potentially climb higher.

Ethereum

Due to the absence of demand, ETH did not exhibit significant buy signals. The Moving Average Convergence Divergence (MACD), a tool used to indicate price momentum and potential trend reversals, showed small green histograms that do not provide conclusive buy signals at this point.

The Bollinger Bands, which measure price volatility and potential fluctuations, have maintained a parallel shape. However, they displayed slight convergence, suggesting that ETH may trade within a relatively stable range without substantial price fluctuations.

To reclaim the $1800 price level, it is crucial for buyers to re-enter the market at the current price level. Their participation is essential for Ethereum to regain strength and potentially push the price higher.

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Avalanche Breaks $14 Price Level, Yet Remains Hinged On Crucial Resistance

During the recent weekend, Avalanche (AVAX) witnessed a significant surge in selling pressure, resulting in a bearish breakout. As a consequence, the price of AVAX dipped close to a multi-month low of $13.8.

However, on the 24-hour chart, the altcoin displayed a slight upward movement, showing some appreciation. On the other hand, the weekly chart depicted lacklustre performance for AVAX.

The technical outlook for Avalanche remains bearish, as both demand and accumulation levels have remained low. The price action of AVAX has been influenced by the undecided nature of Bitcoin (BTC), which recently re-entered the $27,000 range.

This has caused other altcoins, including AVAX, to exhibit uncertainty on their respective charts. The overhead resistance level for AVAX holds significant importance, as surpassing this level could trigger a rally for the altcoin.

Conversely, if sellers exert further pressure, AVAX may break its consolidation and fall below its immediate support level, thereby strengthening the bearish sentiment.

Broader market strength is necessary for AVAX to reclaim its overhead ceiling. The decline in the market capitalization of AVAX indicates a decrease in buying strength at the current time.

Avalanche Price Analysis: One-Day Chart

Avalanche

At the time of writing, AVAX was priced at $14.70. It is currently trading in close proximity to its immediate resistance level of $15. A breakthrough above $15 has the potential to propel the altcoin towards $15.80 and ultimately $16.

The involvement of buyers in the market is crucial to generate demand and facilitate AVAX’s upward price movement. On the downside, if AVAX fails to sustain its current price level, it may find support at $14 before potentially trading below that level. The recent trading session showed a decline in the amount of AVAX traded, indicating the dominance of sellers in the market.

Technical Analysis

Avalanche

Throughout May and part of April, AVAX experienced consistently low buying pressure, reflecting a limited demand for the altcoin. The Relative Strength Index (RSI) was below the 40-mark, indicating that sellers had a greater presence than buyers at the time of writing.

Furthermore, the AVAX price fell below the 20-Simple Moving Average (20-SMA) line, demonstrating that sellers were the driving force behind the price momentum in the market.

A significant move above the $15 price level would help AVAX surpass the 20-SMA line, suggesting a potential shift in momentum and possibly attracting more buying interest.

Avalanche

Although AVAX recently returned to the $14 price zone, there are no clear indications of buying strength according to technical indicators.

The Moving Average Convergence Divergence (MACD), provides insights into price momentum. It formed only one green histogram, which does not necessarily signify buy signals at this point.

The Bollinger Bands, which reflect price volatility and fluctuations, have remained wide, indicating that the possibility of price fluctuations cannot be ruled out in the upcoming trading sessions.

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Is Cardano Poised for A Price Surge? A Look At Its Tight Consolidation

The Cardano price has consistently remained below the $0.38 zone for the past two weeks, indicating a strong presence of sellers in the market. Despite attempts by buyers to regain strength over the past month, their efforts have been feeble, unable to overcome the bearish sentiment.

This persistent bearish price action has resulted in a notable breach of the crucial demand and support zone between $0.37 and $0.38.Over the last 24 hours, ADA has made a slight upward movement on its chart, but the progress has been limited.

Similarly, on the weekly chart, ADA has not shown significant advancement. The technical outlook for ADA reflects bearish pressure and a lack of buying strength.

Demand and accumulation remain low as a consequence. Many altcoins have indicated minor price increases, with Bitcoin returning to the $27,000 price. ADA must maintain trading above its immediate support line to break out of its current narrow trading range.

If ADA surpasses its overhead resistance, the altcoin could potentially experience a substantial rally in the following trading sessions. The decrease in ADA’s market capitalization suggests an increase in sellers outweighing buyers in the market.

Cardano Price Analysis: One-Day Chart

Cardano

At the time of writing, the price of ADA was $0.37. The altcoin is currently experiencing tight price movement within a highly constricted range. Additionally, ADA is approaching a critical support level at $0.36.

On the upside, there is an overhead resistance at $0.38.  A successful breakthrough above this level could drive ADA’s price toward $0.40.

However, if the price fails to sustain its current level, it could drop below $0.36. This would lead to a trading range near $0.34. The recent session showed a decrease in the amount of ADA traded, indicating a slow buying strength.

Technical Analysis

Cardano

Throughout this month, ADA has struggled to generate substantial buying strength due to low demand. The Relative Strength Index (RSI) currently sits below the midpoint, signaling that selling pressure has prevailed in the market.

Furthermore, the altcoin price has recently dropped below the 20-Simple Moving Average (20-SMA) line, indicating that sellers have been driving the price momentum. For ADA to experience a breakout, the price would need to attempt to rise above the 20-SMA line.

Cardano

While other technical indicators may not signal ADA bullishness, the one-day chart reveals some buy signals. The Moving Average Divergence Convergence (MACD) has shown green histograms, indicating a positive price action and momentum.

However, the Parabolic SAR is yet to reflect this positive price action, as the dotted lines remain positioned above the price candlesticks.

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XRP Aims For $0.50, Hinges on Breaking Through This Price Level

Despite the prevailing bearish sentiment in the market last week, Ripple (XRP) bulls showcased their resilience by securing gains. XRP stood out among the top 20 cryptocurrency assets, recording impressive weekly gains of over 8%. Although the daily chart displayed a relatively modest increase of more than 1%, it was enough to maintain the bullish momentum.

The technical outlook for XRP revealed an improvement in buying strength, with demand and accumulation indicators reflecting a recovery on the daily chart.

However, the price movement of major altcoins remained uncertain as Bitcoin slipped back into the $26,000 price level. The future trajectory of XRP will depend on the performance of BTC in the upcoming trading sessions.

Buyers will gain further strength if BTC exhibits improvement, leading to increased demand for XRP. Conversely, if demand fails to rise significantly, it could impede the growth of the XRP price. Another positive sign was the recovery of market capitalization, indicating increased demand and buying strength.

XRP Price Analysis: One-Day Chart

XRP

As of the time of writing, Ripple (XRP) was trading at $0.46. The altcoin demonstrated a significant breakthrough by surpassing the crucial resistance level of $0.44, increasing demand for the asset.

Moving forward, the next obstacle for XRP lies at the overhead resistance of $0.48, which is expected to pose a tough challenge for the coin. However, if the altcoin manages to overcome this resistance level, it could potentially target the $0.50 mark.

Conversely, a decline from the current price level would bring XRP down to $0.44, potentially even below the $0.42 price mark. The recent session witnessed a positive momentum for XRP, as indicated by the green volume bar of the altcoin traded.

Technical Analysis

XRP

Upon the price breakthrough above the $0.44 level, buyers swiftly entered the market, exhibiting a surge in demand for the altcoin. This heightened interest is further supported by the Relative Strength Index (RSI), which currently positions itself above the half-line, just below the 60-mark.

This indicates that buying strength outweighs selling strength at the present moment, underlining the positive sentiment surrounding the altcoin.

Furthermore, the asset’s price has risen above the 20-Simple Moving Average (SMA) line, suggesting that buyers were driving the price momentum in the market.

XRP

The increase in demand for the altcoin is reflected in the buy signals observed on the one-day chart for XRP. The Awesome Oscillator determines price direction and momentum. It generated small green signals closely tied to buy signals for the altcoin.

This suggests a positive price action for the coin, highlighting the potential for further upward movement. Additionally, the Bollinger Bands, which measure price volatility and potential fluctuations, maintained a wide range. However, the parallel alignment of the bands indicates that the altcoin may trade within a relatively narrow range in the upcoming trading sessions.

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Litecoin Surpasses $90, But This Level Remains Crucial For The Altcoin

Despite the prevailing selling pressure in the cryptocurrency market, Litecoin has emerged as a standout performer. While the past 24 hours have not witnessed significant movement in the LTC price, the weekly chart reveals an appreciation of nearly 4%.

A significant breakthrough occurred as Litecoin surpassed the crucial $90 price level, signaling a positive shift in its price. Technical analysis suggests that the bulls hold sway over the price action, with demand and accumulation indicators displaying positive signals on the daily chart.

Most altcoins, including Litecoin, have exhibited similar price patterns influenced by the fluctuations of Bitcoin. Therefore, sustaining the LTC price above the $90 mark will depend on the overall strength of the broader market. Should Bitcoin reclaim the $27,000 zone, it could pave the way for Litecoin to overcome its significant overhead resistance in subsequent trading sessions.

While buyers of LTC currently maintain a favorable position, it is important to note that a slight push from the bears could potentially drive the price below $90, prompting bearish activity. However, the increased market capitalization of Litecoin in the recent session suggests that buyers are currently in control.

Litecoin Price Analysis: One-Day Chart

Litecoin

At the time of writing, Litecoin (LTC) was valued at $91.02. The altcoin’s successful move above the $90 threshold has strengthened the bulls, who are now pushing prices even higher.

However, a formidable barrier stands at $92.8. Surmounting this resistance level could potentially propel LTC toward the $97 mark.

Conversely, declining the current price level would push the altcoin below $90. Should this occur, support might be found at around $86. The recent session’s trading volume of LTC was positive (green), indicating a growing demand for the coin.

Technical Analysis

Litecoin

Buyers have displayed consistent confidence in Litecoin (LTC) as the asset’s price has improved. This positive sentiment is reflected in the Relative Strength Index (RSI), positioned above the half-line and just below the 60 mark.

This indicates more buyers than sellers, reinforcing the optimistic outlook. Moreover, LTC’s price remains above the 20-Simple Moving Average (SMA) line, indicating that buyers are driving the market’s momentum.

Additionally, LTC has managed to stay above the 50-SMA (yellow) and the 200-SMA (green) lines, pointing towards increased demand for the asset.

Litecoin

Litecoin (LTC) demonstrated buy signals alongside other technical indicators, suggesting favorable market conditions. The Moving Average Convergence Divergence (MACD) revealed the formation of green signal bars, indicating positive momentum and a bullish trend.

Furthermore, the Bollinger Bands, a volatility indicator, displayed wide bands, indicating increased price volatility and fluctuation. This implies that LTC is unlikely to trade within a narrow price range, as there is potential for significant price swings.

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MATIC Surges Past Key Resistance Level: Can This Breakout Sustain?

The MATIC price recently broke above a key resistance level, indicating a positive development. However, its price appreciation over the past week has been modest, with only a 2% increase. MATIC has remained close to a critical support line on its daily chart despite the breakout.

The technical outlook suggests that recovery might take some time as the bears dominate the price. Both demand and accumulation have decreased in the daily timeframe.

While MATIC currently sits above an important resistance, the absence of buyer support could lead to a significant loss in value before any recovery occurs on the daily chart.

If the bears exert further pressure, MATIC will likely resume sideways trading, fluctuating between $0.81 and $0.84. The uncertainty in the Bitcoin price movement, as it fluctuates from $27,000 and retraces from that level, has impacted altcoins, weakening their respective price action. The MATIC market capitalization has fallen, indicating a higher level of selling activity than buying activity.

MATIC Price Analysis: One-Day Chart

MATIC

At the time of writing, MATIC was trading at $0.86. It successfully surpassed the $0.84 resistance level in the short term, but buyer sentiment remained weak. The coin’s next significant resistance is $0.87, and breaching this level could initiate a recovery trend.

However, if sellers persist, the altcoin could drop toward $0.81 and potentially below $0.80. The key for the bulls to regain control of the price lies in MATIC, staying above $0.86 in the upcoming trading sessions. The trading volume of MATIC in the last session was low, indicating a lack of buying strength.

Technical Analysis

MATIC

MATIC faced challenges in generating strong buying support throughout April and May, resulting in reduced demand. The Relative Strength Index (RSI) indicated a decline, with the indicator remaining below 40, highlighting the dominant presence of sellers in the market.

Furthermore, the price dropped below the 20-Simple Moving Average (SMA) line, indicating that sellers were driving the price momentum. However, if MATIC surpasses the $0.87 level, it will trade above the 20-SMA line.

MATIC

In contrast, the altcoin exhibited buy signals on the daily chart, albeit with a diminishing size and strength. The presence of green histograms on the Awesome Oscillator indicated buy signals for the altcoin, reflecting price momentum and potential reversals.

Additionally, the Bollinger Bands, which measure price volatility and the likelihood of price fluctuations, remained narrow and wide. However, the bands had a slight convergence, suggesting that the price may not undergo significant volatility or fluctuation in the immediate trading sessions.

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Chainlink Price Consolidation Persists: Will Bulls Front A Recovery Soon?

The Chainlink price has been trading within a narrow range recently, leading to decreased investor interest. However, in the past 24 hours, the altcoin managed to experience a 1.5% increase, indicating sideways movement.

On the weekly chart, LINK showed a 4% upward movement. Despite these gains, the technical analysis indicates that the bears still control the price action. Both demand and accumulation levels remain low, although there has been a slight increase in buying activity on the daily chart. Nonetheless, sellers still dominate the market.

The decline in Bitcoin’s price below $27,000 has caused uncertainty among altcoins, preventing them from making decisive moves on their respective charts. Following a period of consolidation, a price breakout is possible.

While the technical outlook suggests bearish strength, there are also signals of a potential reversal. However, for LINK to initiate a price recovery, it will depend on broader market strength, as indicated by the decline in the LINK market capitalization, reflecting weak buying power.

Chainlink Price Analysis: One-Day

Chainlink

At the time of writing, the price of LINK was $6.78, as it attempted to break its sideways trading pattern while remaining below its resistance level of $6.90. A successful breakthrough above $6.90 could potentially trigger a rally toward $7.20.

Conversely, if the price falls from its current level, it may decline to $6.30. A breach of the $6.30 support line could push the price below $6.

On the other hand, as long as LINK remains above the local support line at $6.60, it has the potential to continue its recovery on the chart. The volume of Chainlink traded in the previous session was positive, indicating buyers were starting to reemerge in the market.

Technical Analysis

Chainlink

Following sustained selling pressure, LINK is now trying to attract buyers back into the market. The Relative Strength Index (RSI) has been trending upward, nearing the halfway point. However, at the present moment, sellers still outnumber buyers.

Additionally, LINK is attempting to trade above the 20-Simple Moving Average (SMA) line, indicating a renewed demand in the market. Despite the coin’s recovery attempts, sellers still drive the overall price momentum.

Chainlink

A buy signal emerged as the price and buying strength of LINK aimed for recovery. The Moving Average Convergence Divergence (MACD), a tool that reflects price momentum and potential trend reversals, formed a green signal bar aligned with a buy signal.

This indicated a potential for positive price movement. Additionally, the Bollinger Bands were wide and parallel, suggesting that the coin would likely attempt a breakout from its previous consolidated price action.

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Ripple Acquires Crypto Custody Firm Metaco In $250 Million Deal

US-based cryptocurrency company Ripple has recently announced its acquisition of Metaco. Metaco is a Swiss-based crypto custody firm and the deal, valued at $250 million, marks Ripple’s foray into the acquisition space.

Metaco specializes in developing cutting-edge technology that enables financial institutions to securely store and effectively manage digital assets. Some of its notable clients comprise Citi, BNP Paribas, and the digital asset arm of Societe Generale.

After the acquisition, Ripple will become the exclusive shareholder of Metaco. It will, however, allow the company to retain its independent brand identity and continue its operations uninterrupted.

Nevertheless, this acquisition holds significant importance for Ripple. Its own cryptocurrency, XRP, currently ranks as the sixth largest in the world based on market capitalization.

Ripple expressed that this acquisition will serve as a catalyst for expanding its institutional offering. Additionally, this will also strengthen its position in the cryptocurrency market.

By integrating Metaco’s expertise and technology, Ripple aims to enhance its capabilities in providing secure storage and management solutions for digital assets.

Investor Caution Has Been Growing Regarding Crypto Asset Storage

Following a decline in cryptocurrency prices in 2022 along with notable collapses of major crypto firms like the U.S. exchange FTX, investor enthusiasm for crypto assets has waned.

A critical factor contributing to this shift in sentiment is the growing alertness among investors regarding the storage of crypto assets. Several crypto platforms had frozen their withdrawals resulting in significant losses for investors. This has prompted them to choose and prioritize secure storage solutions to store their digital assets.

Anticipating a surge in demand from institutional investors, Ripple CEO Brad Garlinghouse expressed his expectation for an upswing in the need for crypto custody services.

He also stated:

By focusing on the infrastructure … you’re not really subject to the same gyrations of the crypto winters. If ultimately you’re solving a clear problem at scale for these customers, there’s going to be demand there.

Amidst the intensifying enforcement actions by US regulators against crypto firms, CEO Brad Garlinghouse highlighted the added appeal of Metaco, being based in Switzerland and having a workforce comprised of non-US employees.

Garlinghouse emphasized that the regulatory landscape in markets outside the United States offers greater and better clarity. This enables companies to make sound and informed investments.

He noted that these transparent and well-defined rules in other jurisdictions have been responsible for creating an environment conducive to business growth and innovation.

Following its recent private financing round, Ripple was valued at $15 billion even though the company had encountered a significant level of regulatory ambiguity.

The uncertainty escalated when the Securities and Exchange Commission (SEC) filed a lawsuit against the company and two of its executives, alleging the sale of unregistered securities. This legal action has further added to the regulatory challenges faced by the crypto giant.

Crypto

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Cardano Price Rejected at $0.36, How Long Will The Correction Last?

The price of Cardano has been following a bearish trajectory for the past couple of weeks. However, in recent trading sessions, there were bullish attempts as buyers tried to push the price higher. Unfortunately, selling pressure emerged again, causing Cardano to trade near its crucial support level.

The technical outlook for ADA is bearish. The chart’s demand and accumulation indicators have been depreciating, suggesting a lack of buying interest in the market.

Moreover, the broader market strength remains uncertain, with Bitcoin recently dipping below the $27,000 price zone in the recent past. This has resulted in many major altcoins, including Cardano, facing rejection at their immediate resistance levels.

Currently, Cardano finds itself at a critical price point. If it manages to move above the overhead resistance, it could initiate a recovery for the coin. However, if the price falls from its current level, it would struggle to sustain itself above the crucial support, potentially leading to bearish dominance.

If Bitcoin trades above the $27,000 mark, it might positively impact Cardano’s price and potentially lead to a recovery.

However, for a significant price turnaround, it is essential for buying confidence to resurface in the market. The decline in Cardano’s market capitalization indicates that sellers have dominated the market.

Cardano Price Analysis: One-Day Chart

Cardano

At the time of writing, Cardano (ADA) was priced at $0.367. Over the past 24 hours, ADA experienced a 1.3% decline in price, while there hasn’t been any significant movement on the weekly chart. The key resistance level for ADA is at $0.37, which has proven to be a strong barrier that the bulls have failed to break through in recent weeks.

If ADA surpasses the $0.37 resistance, it can reach $0.39, resulting in a significant price increase. However, if the price falls from its current level, it could drop below the crucial support line of $0.35, which the bulls have been defending thus far.

The trading volume of ADA in the last session was in red, indicating a decrease in the number of buyers participating in the market.

Technical Analysis

Cardano

Throughout the month, ADA has displayed weak buying strength. This is evident from the Relative Strength Index (RSI) staying below the 40-mark, indicating a prevalence of selling strength rather than buying strength. However, if ADA surpasses its immediate price ceiling, it could lead to a recovery in buying strength.

Moreover, ADA has also fallen below its 20-Simple Moving Average (SMA) line, further confirming that sellers have been driving the price momentum in the market.

Cardano

Contrary to previous observations, ADA showed buy signals on the one-day chart. The Awesome Oscillator, which indicates momentum and trend reversal, displayed green histograms associated with buy signals. This suggests a potential price appreciation in the upcoming trading sessions.

The Bollinger Bands, which represent price fluctuation and volatility, were also parallel and wide. This indicates a higher likelihood of price fluctuations.