At press time, the bulls were reviving cryptocurrency markets to defend key support levels. Most of the market, however, seemed a bit directionless.
XRP saw a decline in capital inflows as the price did not move due north while Cardano’s charts provided a buy-signal. Eventually, Zcash posted marginal gains due to an uptrend.
XRP bounced off its key support zone of $ 0.52 to stand at $ 0.60 at press time. The Alt gained 3.4% over the course of the week. It was mostly moving sideways today. If it doesn’t test its immediate resistance level of $ 0.65 soon, the bulls could lose strength again.
If the price goes south, the altcoin can immediately drop to the USD 0.52 support level. Unless it pushes further up, the price can drop back to $ 0.40. The price could rise in the upcoming trading sessions as a bullish signal appears on the Ingenious oscillator.
The capital inflows also increased noticeably. At the time of going to press, however, capital inflows had decreased slightly as the Chaikin money flow noticed a downtrend. That Relative Strength Index also validated while the indicator flashed a decline in purchasing power.
The price of ADA was $ 1.21 at the time of writing – up 3.0% over the past 24 hours. The Alt has made several attempts to hit the $ 1.27 mark in the past few days. However, it failed to break the $ 1.21 mark after breaking the $ 1.15 resistance level.
ADA rebounded 3.8% over the past week. Liquidity appeared to have decreased as trading volume fell 10.68%. Bollinger bands pointed out that the price level stayed near its release time as the indicator converged quite a bit, suggesting low market volatility.
That Squeeze momentum indicator also confirmed this by flashing a squeeze release and a buy signal. The buy signal was strong for Cardano and them Relative Strength Index imagined an increase in buying pressure.
Zcash was trading at $ 98.31 on the past 24 hours, up 2.7%. The last couple of price candles, however, flashed bearish signals.
Despite significant growth over the course of the week Average direction index Market weakness flashed when the indicator was spotted just above the 30 mark. When the price fell slightly, the Relative Strength Index also decreased – a sign that purchasing power is declining.
On the other hand is that Parabolic SAR highlighted a bullish trend in the market.