Elrond (EGLD), which managed to break its own record last week, fell sharply yesterday, falling to $ 65. After this level, EGLD bulls made a quick intervention in the price and the recovered asset rose to the $ 150 band.
Although Elrond has gone down after its rise, the price is giving signals for a break. A narrowing down channel stands out for him. The Elrond price dropped a little more during the day and is currently hovering in the $ 133 band. The upward trend of the price will strengthen the possibility of a narrowing channel.
The $ 140 band is an important point in Elrond’s price cut. Breaking this point will strengthen the price’s upward momentum, and in this case the asset could rise up to $ 184. First of all, it will be necessary to pay attention to this level. If the asset that finds support at $ 129 falls below this level, it seems likely that the price will drop to $ 119.
In the early hours of the day, the TRX psychological limit, which dropped to $ 0.049 with a drop of $ 0.055, was able to rise above $ 0.05 in the evening. The asset declining momentum, which reached $ 0.06 on February 13, is trapped in a bearish channel. The asset is also listed with a value below 50 days of data, as seen in the moving average data. This indicates that the decline may continue for TRN.
The predominant bear asset after profitability pressures the price downward. SAR data for TRX also feel the selling pressure. RSI data is currently overbought, but the 4-hour charts appear to be in a bearish trend. Likewise, CMF and OBV data support the infertility in demands and the downward trend.
The formation of a possible bearish trend for Tron could drop the price to $ 0.022 with bearish dominance. Conversely, a movement seems to be difficult with these data in the short term, but an increase in the bullish movement could bring the price back to the $ 0.055 band.
The remarkable asset Cosmos (ATOM) instantly reached $ 26.47 and refreshed its own record. The asset was partially withdrawn after the level it lived in the evening. ATOM was trading at $ 24.17 at the time of writing after its new level. This level may result in some further decrease.
Although the upward movement of the price is based on $ 26.5, this value may increase further, while the data were not considered sufficient. While other data, including RSI data, were sufficient for the rise during asset growth, the momentum was insufficient for continuity. The RSI data seems unable to force the overbought zone from the 70 band. MACD data is also moving negatively on several hourly indicators.
Atom may retreat for a while longer. This withdrawal can occur up to the lower support points of $ 21 and $ 19.9. In this case, the buying opportunity may create an opportunity for relevant investors.