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The month of September has, all in all, proved to be a difficult month for the crypto market. The market encountered yet another round of depreciation. Cardano declined over the last 24 hours and inched closer to its immediate support level. AVAX also depreciated after noting a sell signal on its four-hour chart. Finally, Dogecoin was trading at its one-month and half low after experiencing a devaluation of 4.1%.
Cardano has dropped 3.7 percent in the last 24 hours and was trading at $2.42. The coin’s nearest support level was $2.20. The additional price floors were set at $1.97 and $1.83, respectively. The parameters have remained bearish as ADA has lost value over the last day.
Despite an increase, the Relative Strength Index remained below the half-line. The MACD histogram displayed red bars as the indicator reached a bearish crossover. Awesome Oscillator flashed red signal bars as well.
If the buying pressure strengthens, the coin might push upwards to touch its first resistance mark of $2.45 and retest its one-week high of $2.60. The other price ceiling rested at $2.78.
AVAX has dropped 7.4 percent in the last 24 hours after displaying a sell signal. The altcoin was trading at $67.30, close to its immediate price floor of $64.80. If AVAX continues to fall below the current price level, it will find itself on support lines of $55.40 and $48.26, respectively.
AVAX fell below the 20-SMA on the four-hour chart, indicating that price momentum was with the sellers.
The relative strength remained below the half-line, indicating that the market was preceded by sellers. The MACD histogram showed red bars. The Awesome Oscillator detected red signal bars as well as a sell signal.
The Relative Strength Index noted an uptick, and in case it manages to go above the half-line, the coin can move on the upside. Resistance marks stood at $73.83 and 79.07 respectively.
Dogecoin fell 4.1 percent in the last 24 hours and was trading at $0.204. The nearest support remained at $0.192, and the current price of Dogecoin marked the coin’s one and a half month low. The price momentum belonged to the sellers, as the coin’s price was below the 20-SMA line on the four-hour chart.
The Relative Strength Index was below the half-line, indicating a loss of purchasing power. A prolonged phase of tiny red bars dominated the MACD histogram as well, indicating the same. Chaikin Money Flow was below the midpoint, indicating that capital inflows were negative.
The uptick on the RSI could bear some good news for Dogecoin, if the indicator moved above the 50-mark, the prices could rise and touch the immediate resistance of $0.213 and then it’s one week high of $0.240. Other price marks which could prove as price ceilings were $0.273 and then at $0.314.