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The majority of the altcoin industry was that as a result of Bitcoin’s turnaround and recent attempt to break through the $60k barrier. However, with the likes of Simple Focus Token and Tezos, some symptoms of fatigue could be found. Tezos has made several corrections in the last 24-48 hours.
Basic Attention Token [BAT]
At press time, Simple Attention Coin, the native cryptocurrency of the Courageous browser, was at the end of a correction surge, close to Tezos before it, with a brief rebound following. The corrections came after BAT rose by more than 9.5 percent on the charts, bringing the cryptocurrency’s worth closer to its all-time high.
It is worth noting, though, that BAT’s most recent price activity was followed by relatively little trading volume.
The Bollinger Bands on BAT’s charts were maintaining their distance, indicating a degree of market uncertainty. The Amazing Oscillator, on the other hand, displayed some pessimistic momentum, with the histogram flickering bearish signals.
The motions of the altcoin may also be viewed as a continuation of the descending triangle shown on the cryptocurrency’s charts a few days earlier.
Tezos has had a decent few weeks, with the altcoin recently reaching a record high on the charts. However, its success has been overshadowed by that of its peers, with Tezos ranking 35th on CoinMarketCap. XTZ was at the most erratic in March, with the cryptocurrency seeing a string of fleeting rises accompanied by rapid declines.
The same was true for the last two days, with the altcoin dropping by more than 6% on the heels of an uptrend that saw the cryptocurrency rebound from the market-wide depreciation on the 25th.
Although the dotted markers of the Parabolic SAR were well placed above the price candles, the MACD line on the charts was creeping below the Signal line.
The new movement of the altcoin was totally contrary of what was predicted a few days earlier, when the alt was on a sharp uptrend.
Tezos was in the news recently after France’s Lugh.io launched a Tezos-based stablecoin.
Zcash, one of the crypto-premier market’s privacy tokens, increased by more than 30% in just under 5 days to recoup all of its previous losses. However, as of press time, the altcoin’s current bullish momentum had stalled, with the crypto still failing to break through its local top on the charts. It is worth noting, though, that trading turnover witnessed a fairly large jump a few sessions ago, suggesting that more market volatility is on the way in the near term.
The results of BAT’s technical indicators backed this, as while the Relative Strength Index was flirting with the overbought region on the charts, the Chaikin Money Flow was keeping steady above 0.20, highlighting the strength of capital inflows.
The altcoin was in the news today after a report revealed that several cryptos, including the likes of Bitcoin and Zcash, remain popular among terrorists based in Idlib.