Cardano has entered a phase of consolidation. Its price refusing to tilt in either direction, ADA taking inspiration from the advice of market leaders Bitcoin and Ethereum. SNX has shown signs that its uptrend is coming to an end. A move towards the $ 13.41 support could be a possibility. ATOM was capped at resistance around $ 5.97. But momentum could shift to bulls in the market and price could drop its immediate high.
Cardano’s price rested in a channel between $ 0.296 and $ 0.295, awaiting signals from the wider market for a definitive move. A bullish scenario could see the price break through its immediate resistance. It could head to the next resistance at $ 0.31. On the flip side, market declines may seek to target support at $ 0.249 if market leaders BTC and ETH fall back on the charts again.
The MACD : The fast line has increased above the Signal line. The bullish cross could help buyers push the price north.
TheAwesome oscillator was neutral on the upside, highlighting the balance between buying and selling pressures.
Synthetix continues its northward ascent on the charts. So the bullish momentum has shown signs of drawing to a conclusion. At time of going to press, SNX was trading at $ 14.87, up 15.6% in the past 24 hours. Price rebounded around the solid support level at $ 11. The buying pressure pushed the price towards its all-time high. However, indicators suggested that a correction was near and the price could go down in the future.
The Stochastic RSI plunged towards the neutral zone from the overbought territory. He signaled a potential reversal. In such a case, the bears could aim for the $ 13.41 mark. But a move below the next support level may require the help of a broader market pullback.
The Chaikin Money Flow was pointing south and observing movement below the balance mark. This suggests that capital outflows could push the price down on the charts.
ATOM’s losses were reduced to the support level of $ 5.65 as the bulls step in to ease some of the selling pressure. At press time, resistance at $ 5.97 was capping gains. Ellen was preventing the bulls from taking control of the market price. However, the upper cap might not hold the price at bay for too long. Buyers were looking to turn the tide in their favor.
TheOn Balance Volume, which had reached higher highs since the start of the month. He pointed to the constant effort by buyers to push prices up in the charts. A move north could see price testing the next resistance at $ 6.22.
Finally, the dotted markers of the Parabolic SAR were below the candlesticks. This suggests that the market was at the start of an uptrend.
Well done, you’ve read this entire article!
To congratulate you we are going to offer you our free method of investing in cryptocurrencies simply and automatically with the objective of generating regular income while protecting your capital as much as possible.
To access your giveaway, click here and register: https://www.fructify.io/actucrypto.