Aave, Algorand, Dash, VeChain Price Movement Analysis for 20th March, 2021

Spread the love

 684 Interactions,  2 today

Aave sought to reclaim the 38.2 percent Fibonacci amount, while ALGO reversed bearish momentum in its market after the 50-day simple moving average crossed over the 200-day simple moving average. Dash forecasted rangebound activity because uncertainty in its market was poor. VeChain demonstrated bullish momentum behind its uptrend, with the price trading at record highs at the time of publication.

Source: CoinStats

In the meantime, Bitcoin was valued at $59174, with a 24-hour trading rate of more than $46 billion.


Aave [AAVE]

Source: AAVE/USD, TradingView

The 38.2 percent Fibonacci retracement mark, which was around $400, has typically seen strong selling pressure, pushing Aave lower on the 4-hour timeline. The OBV stressed the aforementioned selling pressure as the index established lower lows as AAVE bulls tried to keep the price above the 38.2 percent mark.

Although the Amazing Oscillator suggested some positive traction, stronger signals were needed to support an upward breakout. In a favourable situation, a rise in trade rates or external cues from the wider market will inevitably help AAVE’s price. A break above the 50% mark at $430 provided the bulls with a long-term goal.

RECOMMENDED READ:  Ethereum Classic, Monero, Uniswap Price Movement Analysis for 26th March, 2021


Algorand [ALGO]

Source: ALGO/USD, TradingView

A convergence between the 50-SMA and the 200-SMA was a bullish indicator for the price of Algorand. This may represent a breakaway for a largely bearish sector, which has lost nearly 8% in the last 30 days. The bulls’ next goal was to break through $1.35 support, which was last seen nearly a month earlier.

A bullish crossover in the MACD will be a promising indication. The RSI rose from 60 to demonstrate support on the buying side. However, with a positive result, 24-hour trade rates will need to increase.


Dash [DASH]

Source: DASH/USD, TradingView

According to Bollinger Bands, Dash’s low volatility mirrored the continuing phase of consolidation after the price climbed above the $219.6 stage. The Amazing Oscillator was bullish-neutral, but additional momentum in the coming sessions could assist Dash in breaking out of its current channel.

The bulls’ next goal was about the $280 mark. The bears, on the other hand, will aim for a drop to the $201.08 support level.

VeChain [VET]

Source: VET/USD, TradingView

On the 4-hour map, an ADX reading of 28 suggested a healthy uptrend in the VeChain market as the stock resumed its northbound course. The RSI had not yet entered the overbought zone, suggesting that the uptrend would continue for at least a few more sessions.

At the time of publishing, 24-hour trading rates were poor, which went towards a breakout forecast. If the indicators shift their position, VET is likely to dip below the lower trendline and measure $0.07.


Leave a Reply

Contact Us