Polkadot (DOT)
DOT, which lost almost 30% in the sharp fall of Bitcoin, attempted some resistance level tests to recover these drops during the day.

After a few hours of tough resistance for the $ 30.1 resistance point, it broke into the evening and showed a few green candles signaling a bullish sign.

There is positive activity on the hourly charts. RSI data is hovering in the overbought territory in line with the stochastic RSI data. There is a recovery trend in the MACD data as of the early hours of the day. Its evolution in the positive direction will also accelerate the rise.

The fact that the resistance test lasted for a while for the asset waiting to break at the resistance point for a while brought to mind the possibility of a deficiency in the demand-supply pair. This is confirmed by a noticeable lack of CMF and OBV data. There seems to be a decrease in transaction volumes as well. Even with signs of price increase, things can turn around.

Having seen value just below the 0.786 Fib ($ 33.71) correction point, the asset tried this limit to seek support in the last hour but failed. Although it shows a declining red candle after this event, it will test it again in the next hours. If he manages to turn this local resistance level into support, a rapid climb to $ 35.3 and then to $ 39.7 can be seen.

The prospect of the opposite of the bullish move will push the price back to $ 30.6, the inability of the DOT bulls for the rejected asset.

TRON (TRX)
TRON (TRX) has been following a fluctuating movement in its data for the past few days, squeezing in a range of values. The value range fluctuates between $ 0.050 and $ 0.042. This narrow scope is not certain as it is only a few days old, but there seems to be a bear pressure in front of the rise.

The hourly charts show RSI data is suppressed below the neutral 50 level for most of the day. The bears that won in the last day’s fall shock still have not lost their effect on the price rise. In addition to RSI, Stochastic, OBV and CMF data, MACD data has moved to a horizontal decreasing position, although it has tried to catch an increase in the last hours. He will try to keep his level for a while.

See Also
Cardano (ADA), IOTA and Dogecoin (DOGE) Short-Term Commentary: March 1

This situation, which considers the possibility of the lower support declining to $ 0.043, could bring the several-day fluctuation movement to a bounce to $ 0.059 if it exceeds the opposite level of 0.05.

Cardano (ADA)
Cardano (ADA) recovered significantly after falling as low as $ 0.82. The value increased by more than 50% in as little as 3 days after seeing a local bottom, reaching a local peak of $ 1.24 during the day.

Cardano saw resistance at $ 1.19 during the day, and for a while expected a break in these values. Indeed, it broke the resistance and rose to $ 1.24, but failed to find support and pulled back a bit. For the moment, the asset, which finds support at $ 1.18, is preparing to move on to the resistance point tests again.

The 4-hour data shows the presence of 2 peaks for Cardano in the past week. These peak and bottom movements seen on the road to the summit bring along the risk of a decrease and the possibility of correction. However, looking at the recent candlestick, the asset is aiming to make an attempt to move above its local peak.

RSI and MACD data in particular offer a highly trend-supportive forecast. Stochastic data has also turned from a stable point to an overbought point, and there is a significant increase in transaction volumes. The asset will want to find a place for itself above the resistance level for a while. Success in this attempt is likely to rise to $ 1.44 and there is no resistance that is difficult to encounter.

On the other hand, in the event of a possible back correction in the peak and bottom model, there will be a search for a support point for the asset in the 50-MA in the first place. Apart from that, the asset’s decline to the 0.786 Fib retracement means that it falls into the $ 0.97 risk area. In this case, it may descend again to $ 0.82, a level that is difficult to control. Investors should also have the opportunity to buy in order not to trigger further declines.

LEAVE A REPLY

Please enter your comment!
Please enter your name here