Cardano (ADA) replaced the $ 0.97 local peak last day with a retracement with sell pressures and loss of resistance.
The asset is falling gradually, and every fluctuation presses down the price. The price appears to remain below the limit on the 20 SMA and 50 MA moving averages.
In addition to the selling pressure, the price that fell below the last local support point in the early hours of the day indicates the failure of the bulls. The price was around $ 0.84 at the time of writing and the continuation of the decline can come.
The MACD indicator gives a negative impression in the negative zone on the hourly charts. Likewise, the RSI, Stochastic RSI and Chaikin data do not seem to indicate a rise under the hourly chart. The Fib retracements suggest the price is likely to retreat to a lower support level of $ 0.78. In addition, the low demand and the decline in transactions are reflected in the balanced volume data.
These are all parameters that herald some more ADA decline. It will be necessary to pay attention to the asset that fell below the $ 0.78 level after a slight decline. However, the bull activity and the new investors captured by the ADA can turn the situation around in a short time.
While Dash was a long-dormant being, yesterday he climbed a long-awaited level for him. The asset that exceeds $ 300 instantaneously is experiencing gradual withdrawal. Dash has experienced a decline with local post-peak resistance pressure and selling pressures, breaking past the resistance level of $ 260. In the first hours of the day, the asset, which wanted to continue its climb again, made its decline to its current value of $ 238 after rejecting again from resistance.
After trading below the 20-SMA move, the technical indicators for Dash recovered in the last hourly data and rose above the slope. While the MACD data is in the negative zone, it is seen that it is moving towards the positive zone.
However, the RSI, Chaikin and balanced volume data give a negative impression as of the post-uptrend. The RSI 50 is just above the neutral level, while the CMF and OBV data are in the negative zone. Parabolic SAR data also still maintain sell signals for the asset. With these data, the sales pressure continues. It seems that the bull’s presence has not fully gotten ahead of profitability.
It can also be said that a downtrend channel is formed for the asset in the short term. The decline in Dash demands and the decrease in transaction volume data indicate that the withdrawal may continue. In the short term, Dash could drop to $ 204 in the next few days with this data. New buying opportunities may be suitable for these levels.
TRON (TRX) is another asset that has successfully emerged from the altcoin bull. Tron experienced instant increases in some stock markets up to $ 0.60 the other day. It is currently trading at $ 0.054, with a 7% decrease in the last 24 hours.
After capturing the local summit, Tron went to a correction as expected. The entity that tested the local resistance point of 0.058 many times during the day was forced to pull back. In hourly data, the RSI hovers below the neutral 50 level. CMF and volume transaction data also declined, moving towards negative regions.
SAR data and MACD indicators are still in decline. While the SAR data created selling pressure, the MACD has not yet come out of the negative zone.
Red signals predominate for a fall on the candlestick charts. On the other hand, although the increase in the last hours is seen partially, other parameters still make the investors feel the continuity of the decrease.
Tron has a strong bull market. However, the continuity of the selling pressure may push the asset down for a while. In this case, the 0.051 level for the asset can be seen in the continuation of the process. On the other hand, the bulls will be expected to try to protect the value. This will require keeping the price between $ 0.056 and $ 0.058 for now.