Dash,Ethereum, IOTA Price Movement Analysis for 16th March, 2021

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Dash tossed $219.6 to a help zone once more. After bouncing back from a solid support line at $1,725, Ethereum recovered the $1,800 mark. IOTA has been fluctuating between $1.43 and $1.27.

Dash [DASH]

Dash flipped the aforementioned line to a region of assistance on the 4-hour timeline during a retest of the $219.6-level. Lower highs on the On Balance Volume illustrated heavy selling pressure as Dash was denied at the $245.1-resistance, but the index did rebound by press time. In the oversold field, the Stochastic RSI also displayed a bullish crossover.

Although these were encouraging signs, a break above the overhead resistance was impossible given the low trading volume. In the short term, Dash is expected to consolidate within its press time channel, with a breakout primarily contingent on stronger prompts from the wider market.


Ethereum [ETH]

Source: ETH/USD, TradingView

Since selling in the red yesterday, Ethereum sought help at $1,725, which also coincided with the 200-day simple moving average. At the time of publication, the world’s largest altcoin was priced just over $1,800, with a 24-hour trading rate of nearly $50 billion. As ETH bounced back from the aforementioned support line, buying activity was visible on the On Balance Amount, which increased. The bulls, on the other side, faced a few roadblocks as they advanced.

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The first barrier was the 50-SMA (blue), and the second was the $1,888-resistance. If the price of ETH rises above any of these thresholds, it can set new highs. Furthermore, the Amazing Oscillator represented optimistic momentum, suggesting that the bulls were still making strides on the road to recovery.


Source: IOTA/USD, TradingView

IOTA remained within a horizontal channel of $1.43-$1.27, a region that has previously seen back and forth movement between either hand. Since jumping back from the lower trendline, the cryptocurrency’s price was trading near the midpoint of its press time channel at the time of publishing.

The weakening ADX, which was pointing towards the 20-point, indicated that the bulls were losing momentum in order to force a northbound breakout. A bearish crossover in the MACD played towards a positive result as well. A increase in 24-hour trading activity could trigger a break away from the channel.


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