BAT, Cardano, VeChain Price Movement Analysis for 24th March, 2021

Spread the love

While an alt season may finally arrive, the fact is that the industry’s alts remain inextricably linked to the price fortunes of the world’s largest cryptocurrency, Bitcoin. This has also been the case in recent days. As BTC dropped, the rest of the market followed suit. With the cryptocurrency trading over $56,000 once more at press time, alts such as BAT, Cardano, and VeChain are also on the rise.

Basic Attention Token [BAT]

BAT, the native token of the Brave browser, like Cardano before it, reached its all-time high on the price charts less than a week ago. BAT, like ADA, has been on a downward trajectory since, with the crypto crashing by more than 11% on the heels of BTC-precipitated corrections on the 22nd.

However, at the time of publication, several attempts to recoup missed gains were visible on BAT’s maps, with the last two price candles flickering orange.

The altcoin’s technical indicators confirmed this, as the mouth of the Bollinger Bands remained stable, indicating a degree of near-term price volatility, whilst the Awesome Oscillator indicated an increase in positive market momentum.

Grayscale announced that one of its new trusts would be focused on Simple Attention Token, which fuelled curiosity in BAT.


Cardano [ADA]

Source: ADA/USD on TradingView

Cardano, the market’s fifth-largest cryptocurrency by market capitalisation, has had a successful 2021, with the altcoin reaching its all-time high (ATH) less than a week ago. However, big declines have swept in since then, with ADA on the market charts in a downtrend. Bitcoin’s depreciation on the 22nd exacerbated the downtrend, with the alt crashing by more than 7.67 percent.

RECOMMENDED READ:  One Biggest Takeaway from Fed Meeting: There is no Bitcoin Bubble

However, at the time of publication, some healing was ongoing to coincide with BTC’s own recovery. In reality, the cryptocurrency had YTD returns of more than 560 percent.

A continuous recovery effort is needed to have the ADA’s indicators blinking green again. At the time of publication, the Parabolic SAR’s dotted markers were above the price candles, indicating bearishness, whilst the Chaikin Money Flow was consolidating gradually below zero after a brief uptick.

The altcoin was recently in the headlines after IOHK’s Charles Hoskinson called out Ethereum backers for referring to Cardano as a “ghost chain.”



VeChain [VET]

Source: VET/USD on TradingView

VeChain, the 19th-ranked cryptocurrency on CoinMarketCap’s charts, like Cardano and BAT, has just recently posted a new ATH on the lists. VET, as the other two, dropped as the rest of the economy did, with the altcoin down by almost 15% in the 24 hours that followed. Another study has previously illustrated the aforementioned depreciation.

VET was up over 7.5 percent in just 12 hours, thanks to the market-wide price increase. However, it was too early to tell whether VET would be able to withstand a pattern turnaround and record higher ATHs.

RECOMMENDED READ:  MoneyGram Releases Statement Distancing Itself From Ripple in Wake of SEC Probe

While the MACD line remained just below the Signal line, the Relative Strength Index was approaching overbought territory as the number of buyers increased across the market.



 316 Interactions,  6 today

Ethereum, Synthetix, VeChain Price Movement Analysis for 11th April, 2021

Ethereum saw a bearish divergence and fell below $2100, but it was met with strong demand. Synthetix hit $20 as Read more

Polkadot, VeChain, SushiSwap Price Movement Analysis for 10th April, 2021

Polkadot could soon convert the $42 level to help and begin to rise. SushiSwap was heading downward but could display Read more

Enjin, VeChain, XRP Price Movement Analysis for 9th April, 2021

The market's altcoins have not precisely corresponded to the activities of Bitcoin, the world's leading asset, which has been the Read more

Tron, BAT, VeChain Price Movement Analysis for 8th April, 2021

Bitcoin was trading near the $57k mark, but a decline down to $55k was not ruled out. As a result, Read more

Uniswap, VeChain, Waves Price Movement Analysis for 5th April, 2021

Uniswap traded slightly above the $30-mark but was projected to remain below $32 over the short term. VeChain and Waves, Read more

Chainlink, VeChain, Chiliz Price Movement Analysis for 3rd April, 2021

Both the on-chain metrics and the maps painted a positive picture for Chainlink. VeChain was trading just below a degree Read more

Cardano, Neo, VeChain Price Movement Analysis for 30th March, 2021

Cardano seemed to be heading in the $1.27-$1.16 channel, and the next major swing could drive it into the $1.31-resistance. Read more

Chiliz, Ontology, VeChain Price Movement Analysis for 29th March, 2021

Chiliz has seen large fluctuations in recent days, but long-term traders will look for an increase above $0.6 to mark Read more

EOS, Stellar Lumens, Vechain Price Movement Analysis for 28th March, 2021

Although Bitcoin saw a price drop earlier this week, many of the crypto market's altcoins did as well. The effect Read more

Reasons behind multibillion-dollar corporations’ investment into VeChain.

In virtually any ranking, VeChain has been among the top performers in the cryptocurrency sector. In just one year, VET Read more

After a week of gains, what comes next for Ethereum, Cardano, Vechain, and Holo

Based on trading volume and transaction details from the previous 24 hours, the hottest altcoins are, in that order, HOLO, Read more

Leave a Reply

Contact Us