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Decred could reach $200 if its press-time support holds. Monero broke out in the opposite direction of an ascending channel, forming a new high over $340. ATOM’s indicators ruled out a step below its 200-SMA.
Though Monero was moving in an ascending channel, a breakout in the opposite direction negated the trend. The breakout price reached $340, and despite the appearance of a bearish candlestick on the 4-hour timeline, bullish market conditions may continue to support the price on the coming sessions.
According to the new reading, the ADX was pointing north from 44, and a reversal seemed to be out of the question. The RSI indicated that the market was overbought, but recovery could be postponed before Monero reaches the next psychological threshold of $350.
While Cosmos broke through its upper resistance mark of $22.67, a reversal quickly followed, dragging the price down below this level. Bearish divergences were observed around the RSI, and the upcoming sessions will determine ATOM’s mid-to-long term trajectory. The bulls would like to limit incoming losses at $19.84-support, since a jump below this would result in a breakdown from the 200-SMA (green)
This could also lead to a prolonged bearish scenario, with support at $16.7 being highlighted once more. A higher trending OBV, on the other hand, ruled out such a result. Despite the fact that the RSI has been trending downward in recent days, it has flattened out at 57, indicating some bullish momentum at the current price stage.
Decred has been on a bullish trend since the beginning of 2021, and it also finished the month of March with a rebound above late-February peaks. Though DCR traded at lower levels in the latter half of March, the market rebounded strongly from $143.8-support. If the press-time support is sustained, the price could also break through the $200 barrier in the future.
The MACD signalling a bearish crossover, but the index was still above the half-line, indicating that the bulls were not in imminent danger. And if the price falls, it might find another boost at $185.3. Though OBV had fallen marginally at the time of writing, its overall trend since January had remained positive. DCR could suffer short-term losses, but the long-term trend was expected to be favourable.