Since the broader crypto market lacked optimistic sentiments, the altcoins mostly followed the same path towards price cuts and strong sell signals. DOT rebounded slightly from its undervaluation and was oversold at press time. Synthetix’s market also matched the weakness of the broader crypto market as the Alt lost 20.9% of its valuation over the past week.
However, BAT took a different route as its price has increased 13.8% in the past 24 hours.
DOT has been on a steady downtrend since July 8th. Needless to say, the coin has not recovered well enough from the June slump. At press time, the price was $ 12.04 after falling 21.9% per week. The trading volume of the plant also increased by 12.46%.
The Bollinger bands in parallel, remained with no signs of contraction or expansion, suggesting that the price would move around current levels at least immediately.
If the price does not see a surge or cross the resistance level of $ 13.30, it may fall below the support level at press time of $ 12.04. The MACD noticed red histograms indicating a continued bearish trend after the bearish crossover on July 12th.
DOT has visited the oversold zone several times over the past week. At the time of going to press it was just over the 30 mark with a little downward stick on the Relative Strength Index indicator This implies that buyers were leaving the market, while sellers were in the dominant number.
Basic attention mark [BAT]
Basic Attention Token rose unlike other altcoins today, trading at $ 0.568 at press time, up 13.8% over the past 24 hours. Trading volume for BAT increased 119.39% while market capitalization also increased 12.29%.
BAT’s volatility has been choppy lately and at the time of writing that has been Bollinger bands were expand – a sign of greater market volatility.
Since the price has increased in the last 24 hours, Parabolic SAR found his dotted lines under the candles. This meant and confirmed that the price had gone up.
At the time of going to press, the altcoin was showing an enlargement of the green signal bars on the Great oscillator which implied bullish momentum. If the bulls get even stronger, the token could attempt to touch the $ 0.600 resistance level and then test the $ 0.640 level.
Synthetix has been tracking southbound price movements since July 12th. The token lost 20.9% of its value in just over a week. At press time, the token was priced at $ 8.89 and a slight push from the bears would drop the price towards the $ 7.82 support level. The SNX’s all-time high was $ 28.53 in February 2021.
The Chaikin money flow Registered lower capital inflows compared to the outflows of the last few days. However, an increase at the time of going to press indicated that capital inflows had increased slightly.
The Average direction index also corresponded to the above-mentioned statement on market weakness, as it was slightly above the 25 mark.
Finally, that Relative Strength Index ran very close to the oversold zone but not yet moved into that zone. This reading implied that buyers were absent from the market and that sellers took precedence over buyers.