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Given the fact that stabilisation has been the standard for the majority of the last 36 hours, the market has had some declines set in over the last few trading sessions, despite the overall bullish pattern. Polkadot, SUSHI, and THETA all encountered inconsistencies in movement, as demonstrated by their price behaviour.
Polkadot, the sixth-largest cryptocurrency by market cap at the time of publishing, was one of the altcoins to rebound well after the industry-wide depreciation on March 24th. In reality, DOT seemed to be on the verge of recouping all of its losses as well. However, as of press time, DOT’s smooth turnaround run had slowed somewhat, with its 8.9 percent being followed by sharp corrections.
However, it seemed unlikely that the same would represent a prolonged pattern turnaround because, although the Relative Strength Index remained above 50, the Parabolic SAR’s dotted markers remained far below the price candles.
DOT’s press time fluctuations were consistent with those predicted by a recent market report, which also predicted that DOT is unlikely to see a significant price swing in any direction in the short term.
Polkadot made headlines yesterday after FireProtocol tried to rob ships from Heco.
SUSHI, like Polkadot, regained the bulk of its losses in the days following the aforementioned market-wide depreciation. Unlike DOT, though, SUSHI was swift to fall again, with a noticeable downtrend dragging the cryptocurrency’s value further down the charts. Although the famous DeFi token has risen by nearly 5% in the last 36 hours, some corrections are noticeable at the time of writing.
As a result of this, SUSHI was once again trading at a pace well below its local peak on the charts.
While the mouth of the Bollinger Bands was closing in, signalling a decline in near-term uncertainty, the MACD line was tightly entangled with the Signal line, indicating a hesitancy to pick a market pattern, according to SUSHI’s indicators.
SUSHI, on the other hand, is expected to provide traders with double-digit losses in the short term, according to many.
The altcoin made headlines a few weeks ago when it was selected as one of the cryptos to be identified by Coinbase in its most recent listing round.
THETA has been called the “surprise tale of the year” by many, with the altcoin soaring in recent weeks to reach the prestigious top-10 of CoinMarketCap’s charts. In reality, by doing so, THETA exceeded Litecoin, Chainlink, and Bitcoin Cash, all of which are more known in the market.
However, after reaching an ATH on the indexes, corrections set in, and the cryptocurrency is yet to fully rebound from the same as of press time. Interestingly, while the broader crypto-market has been on a turnaround streak for the bulk of the last two days, THETA’s pricing activity has pushed the alt further down the rankings, with the crypto reporting losses of 6.7 percent.
Although the Amazing Oscillator portrayed a rise in negative market momentum, the Chaikin Money Flow was falling below zero, demonstrating the strength of capital streaming out of the market.
Despite the above decline in value, the cryptocurrency is generally predicted to recover and cross the $40 mark in the foreseeable future.