Despite recent price corrections in the broader crypto market, many altcoins are still largely sandwiched between their immediate support and resistance levels.
ADA buyers, for example, have fallen significantly in the past few days, while XRP price movement has largely stagnated, with the altcoin struggling to break through its immediate resistance. After all, MATIC was trendless in the past week and fought for upward trends.
Cardano was up 8.8% in the past week, but only increased 0.3% in 24 hours. At press time, the altcoin was trading in the green at $ 1.42. However, ADA left the $ 1.48 resistance level untested after failing to test the same in the recent past. If the price of ADA goes down instead of going up, the coin could fall to the $ 1.19 level.
ADA’s daily gains were marginal. Ergo that Parabolic SAR indicated another downtrend in price as the dotted lines stayed above the candles at the time of writing. In addition, investors in the ADA market have somewhat disappeared with the Chaikin money flow Emphasis that at the time of going to press capital outflows exceeded inflows.
The Great oscillator gave away Mixed readings and bearish signals were sporadically sporadically between certain bullish signals. However, at the time of writing, there were green signal bars on the indicator, each of which indicated that bullish momentum could emerge.
Like many other altcoins, XRP has been moving in a consolidated price range since the last week of June. At press time, the altcoin was trading at $ 0.66 after gaining 3% over the past 24 hours. XRP saw a slow rebound but struggled to break the $ 0.73 resistance level.
The buying and selling pressure in the market fluctuated slightly due to the Relative Strength Index but at press time there has been an increase in buyers versus sellers. The Great oscillator imagined the appearance of a bullish signal when the green bars were found on the indicator at the time of writing.
The Bollinger bands remained parallel and tight, so that no steep price movements can be expected in the next trading sessions.
MATIC’s movement on the charts has been mainly a sideways movement in price. To back up the above statement, the asset only rose 2% over the past week. Compared to the Alt’s price action in May, a month when MATIC’s price was pushed up by the bulls, the digital asset has not seen significant gains in the past three weeks.
The Average direction index pointed to the trendless movement of the token as the indicator stayed below the 20 mark for the past few days. If the price goes down, the level of support that MATIC would be at would be at $ 1.03.
A decaying bullish signal was depicted on the Great oscillator because the green signal lines were barely visible. On the contrary, that Parabolic SAR showed an upward trend in prices due to the tiny positive price changes in the past 24 hours.
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