The last few days have demonstrated Bitcoin’s dominance in the rest of the crypto-market. Until BTC hiked to crack the $53,000, $54,000, and $55,000 stages, it consolidated between $50k and $52k. However, while this was a healthy consolidation, many altcoins didn’t think so, with Tezos and BAT soon correcting on the charts. Dash was an exception, though, with the privacy coin still walking.
Basic Attention Token [BAT]
Basic Attention Token, Brave’s native crypto browser, like most alts, has been on charts lately. In fact, since the beginning of the year alone, the crypt has gone from $0.22 to $0.60. Like Tezos, while BAT hit the local top a week ago, the corrections soon followed, before the market momentum again moved the alt higher on the charts.
It should be remembered, however, that BAT’s press time price level was still a long way from its $0.95 ATH.
While the Bollinger Bands were expanding to illustrate incoming market uncertainty, the Amazing Oscillator projected a bullish momentum, amid some red flashes on the histogram.
Dash, one of the market’s leading privacy coins, has risen exponentially in price charts over the past week or so. In comparison to the rest of the industry, Dash’s success was, at best, lukewarm for most of 2021. The last 7 days, however, have been an anomaly of sorts, with privacy-centric cryptocurrency rising by more than 92 percent over the week.
The bullishness of the coin market was underscored by the crypto technical indicators, as while the MACD line was well above the Signal Line on the charts, the Relative Strength Index remained steady in the overcrowded region.
It’s been an odd couple of weeks for Tezos. Although XTZ recently climbed to a new ATH on the back of the general market bullishness, the cryptocurrency was ranked 25th on CoinMarketCap’s charts all the way down. In fact, soon after the said ATH was hit, the corrections were set in, and coupled with Bitcoin being confined within a set trading range, XTZ dropped.
Over the last few days, however, Tezos seemed to have stabilised, with the cryptocurrency rising by 15 percent in the last three days. With the world’s largest cryptocurrency already worth more than $55,000, XTZ is likely to be bound by more price discovery.
Although the Parabolic SAR’s dotted markers were just below the price candles and highlighted market optimism, the Chaikin Money Flow was well above 0.10, a sign of capital inflows gaining power.
Tezos was in the news recently after an Edo update had been announced, three months after the Delphi upgrade.
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