The crypto market opened with a mixed trading day today as Bitcoin retreated underneath $ 47,000. However, the industry’s altcoins posted some gains despite the decline in BTC. Dogecoin was up 5.8%, and while ADA was up 1.9%, the coin’s indicator pointed to bearish sentiment.
ADA was up 1.9% in the past 24 hours when it traded at $ 2.16. Although it was trading above the $ 2.0 mark, the charts indicated some bearish movement. If ADA does not stay at its current price level, support for the coin has been at $ 1.96.
That Great oscillator flashed red signal bars, indicating a bearish trend in ADA prices. MACD also showed chances of a declining crossover.
Bollinger bands stayed broad, highlighting the chances of increased market volatility. If Alonzo’s appreciation manages to raise prices, ADA could retest the immediate resistance at $ 2.20 and eventually topple its all-time high of $ 2.48.
BTC traced its trail to the lower price of $ 46,957, down 1.6%. BTC’s technical data indicated the onset of declining momentum in the market.
Great oscillator registered higher red signal bars. MACD blinked red bars in his histogram and today recorded a bearish crossover. In the event of a $ 46,957 drop, BTC would migrate south to $ 46,197.
That Relative Strength Index The indicator remained positive above the half-line although buying pressure eased. Should there be a price reversal, BTC could retest its $ 47,000 resistance level.
Dogecoin has maintained its upward trend as it has seen a 5.8% increase over the past 24 hours. The token was trading for $ 0.30 at press time.
The coin has managed to hold above its support level of $ 0.273 and could test the immediate resistance of $ 0.312 in upcoming trading sessions. The four hour chart showed bullish sentiments for the coin.
MACD watched green histograms after a bullish crossover and Great oscillator an increased number of green signal bars was also detected.
Additionally, Chaikin money flow has seen increased capital flows and was seen above the half-line in bullish territory. An unexpected drop in price could cause Dogecoin to rest on the $ 0.273 support line.