With the total market capitalization increasing almost 6% in the last 8 hours, many altcoins increased significantly along with bitcoin. The DOGE market saw positive momentum today, up 8.6% in just 4 hours, and a similar move is expected as the community celebrates “Dogefather” Elon Musk’s birthday. Cardano and Filecoin also made decent profits, although not everyone was talking about them.
Dogecoin [ DOGE ]: –
By continuing its sideways movement, Dogecoin kept its investors at peace. The coin rose sharply in the early hours of June 28, trading at $ 0.255 at press time. Simple moving averages Lines continued to move as expected and showed mixed signals. The 50 SMA (orange) Line remained in the support position while the 100 SMA (red) Line was above the candlesticks that acted as resistance. If this gap closes soon and DOGE rises above the 100 SMA line, a certain positive dynamic can be expected.
On the Squeeze momentum indicator, Due to the appearance of dark red bars, the downward pressure was able to subside. Active pressure (black dots) remained on the indicator. Chaikin money flow showed that capital outflows were a priority the moment the indicator moved back into bullish-neutral territory.
For now, $ 0.285 and $ 0.21 remain strong support and resistance levels.
Cardano [ ADA ]: –
Despite a brief decline on June 22nd, Cardano came back up after rising on June 27th, placing the coin above $ 1.31, converting it to support from the resistance. At $ 1.315, the coin could turn as much as $ 1.37 into support. Great oscillator showed rising bullish momentum on the 4-hour chart as green bars lit the indicator.
An active upward trend was on Parabolic SAR because the dotted line remained present under the candlesticks. This upward trend is likely to continue. This is due to the current movement of the Average Directional Index (ADX). The red line indicator fell below the 25.0 mark and spun much less directional, which is a good sign for the coin as it gives ADA some room to climb.
Stronger market signals are needed to move the coin higher.
Filecoin [ FIL ]: –
Filecoin’s volatility had been consolidated below $ 59 this week. For the past 4 days, the coin has tested both its support and resistance, but to no avail. At $ 55.8, the coin appeared to be heading for resistance again. Bollinger bands began to converge slightly as observed at the time of writing. The base was in a support position which indicated a positive price move in the event of sudden volatility.
The MACD showed a bullish crossover as the histogram behind it showed rising bullish momentum. Finally, that Relative Strength Index (RSI) moved into bullish neutral territory. The purple line indicator has been rising for almost a week and signals a similar move.
If the coin gains momentum, it could potentially continue to rise.
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