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Cardano was moving in an ascending channel, and a failure was predicted as it reached the $1.49-resistance stage. Cosmos could fall to $24.4 or $23 before the next upswing, while Hedera Hashgraph was expected to reach $0.40 resistance before a pullback.
A break through the $1.33 resistance mark propelled Cardano to a new all-time high of more than $1.5, but the stock has since retraced to two support levels. The first level of support, at $1.38, was identified after a pullback from record highs, while another, at $1.33, saw buying following a breakdown from an ascending channel (not shown). On the hourly timeframe, ADA was trading in yet another ascending channel, with a southbound split planned at the pattern’s height.
Though Cosmos was still rangebound in March, a break over the $24.4-resistance fueled a bullish rally that peaked at $28.5. A slight reversal was countered at the $25.3-support level, and the bulls will need to defend this level again in the coming sessions.
As selling demand outweighed buying pressure, the OBV reached lower highs. The ADX reached a high of 30, but had fallen below 22 at the time of publication, indicating a slowing bullish pattern. Further drops to $24.4 or $23 can present buying opportunities until ATOM resumes its upward trend.
Hedera Hashgraph [HBAR]
On the 4-hour timeframe, Hedera Hashgraph made three peaks, each followed by a downtrend and a bullish bounce back from different support ranges. Following the recent drop towards $0.328 support, HBAR seemed to be poised for the next leg upwards.
The Awesome Oscillator was below the half-way point, but it recorded two successive green bars as momentum seemed to change. A step above 0 can trigger some buying signals. The MACD line was closing in on the Signal line, and a good crossover would support a positive result. In a bullish situation, a break over $0.38 was possible, but sellers were supposed to intervene at $0.40 resistance.