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Following the market-wide consolidation trend, the cryptocurrency industry saw similar price sensations. After reaching an all-time high a few days ago, ADA began to exhibit range-bound movement.
As purchasing pressure waned, Litecoin fell 3.3 percent, with its sights set on the $161.90 support level. Finally, VeChain has stayed stable between $0.127 and $0.115.
ADA fell 1.7 percent on its chart in the previous 24 hours and was trading at $2.76. On the chart, the alt displayed range-restricted movement. The price of ADA was fluctuating between $2.93 and $2.76.
A further drop from the aforementioned price levels would take the token to its immediate support level of $2.66, followed by $2.39. The movements of ADA indicate negative price patterns, which are verified by technical indicators.
As purchasing pressure faded, the Relative Strength Index dipped below 50. The Awesome Oscillator showed red signal bars.
Capital inflows, on the other hand, remained positive, with the Chaikin Money Flow remaining above the half-line.
Conversely, capital Inflows remained on the bullish side as the Chaikin Money Flow stood above the half-line. A break above the current price level could propel ADA to revisit the $2.93 and $3.07 mark respectively.
LTC was trading at $168.67, down 3.3 percent from yesterday’s close. It moved closer to the $161.90 price floor. Profit-taking in the market could drive prices down to $143.24.
Selling pressure pushed the Relative Strength Index into the negative zone. The Awesome Oscillator flashed a sell signal, accompanied by red signal bars suggesting negative price activity.
MACD saw a bearish crossover and the appearance of red bars on its histogram.
If Litecoin’s pessimistic perspective is not maintained, prices may rise to $177.61 and $188.43, respectively.
VET fell 1.3 percent and was trading at $0.117. On its four-hour chart, the coin had concentrated movement. VET traded between $0.127 and $0.115.
Bollinger Bands also tightened in response to the same.
If VET remains in this range for more than a few trading sessions, prices may reach the $0.103 price floor.
The Relative Strength Index remained at 40, indicating that buying strength remained low. MACD underwent a bearish crossover and flashed red bars on its histogram as a result.
If VET breaks out to the upside, it will face immediate resistance at $0.127, followed by $0.145.