BAT, Compound, XRP Price Movement Analysis for 23rd February 2021

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BAT dropped below its 200-SMA level as the sellers were targeting the $0.36 support level. COMP was expected to fall to the $300-level, but there were also signs of an early bullish turnaround. Finally, XRP’s northbound shift to $0.45 was quickly halted after market bears interfered on price charts.

Basic Attention Token [BAT]

Basic Attention Token slipped below its 20-SMA (blue) and 50-SMA (yellow) as sales pressure continued to weigh down the price of the crypto over the last few sessions. At the time of writing, the 200-SMA (green) also struggled to reduce its losses as BAT moved towards the next level of support at $0.36.

Even though the Stochastic RSI was trading in the oversold sector, the index pointed down and indicated a delayed bullish comeback. Over the next sessions, the OBV should be observed as a pickup in the index might signify a bullish reversal of the charts.

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Compound [COMP]

Source: COMP/USD, TradingView

Compound missed out on its $412.3 support as momentum grew on the revenue side. At the time of writing, COMP traded about $340, down by 25% compared to yesterday. The Awesome Oscillator reported a bearish momentum as the red bars rose below the half-line. In the event of an extended bearish result, the next level of support may be found at $300.

On the other hand, the Stochastic RSI was positive about its prediction as it was on the verge of a bullish crossover in the oversold area. A bounce back to the current level might see COMP revisit the $412.3-mark.

XRP

Source: XRP/USD, TradingView

On the hourly charts, XRP looked to make a $0.45 rebound even after the creation of a bearish marubozu candlestick. However, the market bears soon took hold of the market again. After a brief upswing, the RSI revisited the oversold zone. The MACD histogram showed a decrease in the bearish momentum, even as the Signal line moved well above the fast-moving line.

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However, there was a lack of traction on the purchasing side to justify a leap beyond the press time resistance mark. In the unlikely event of a northbound breakout, the next level of resistance was $0.5.

 

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