Bitcoin’s decline below the $ 56,000 level continued, and the altcoin market followed suit. With XRP falling below the $ 0.43 support level, Cosmos will likely test the $ 18 level once again. BAT is trading above the $ 0.734 support level.
At the time of writing, BTC was trading at $ 56,245, with a 24-hour trading volume of $ 62.4 billion.
The descending channel where XRP was trading saw XRP being rejected at the channel’s high of $ 0.462, and sellers saw a support of $ 0.436, representing a 38.2% retracement level for XRP from $ 0.179 to $ 0.757. pulled prices up to the level.
At the time of writing, the most recent trading session was not yet closed, but the price was trading below the support level. In the next few hours, XRP is likely to drop and retest $ 0.436 as resistance.
The Awesome Oscillator recorded rising bearish momentum and remained below the zero line.
ATOM has not been able to cross the $ 21.3 resistance level since the end of February, despite repeated attempts. Sellers successfully lowered the price after a $ 21.3 test. ATOM headed towards the $ 18 support level, and another drop below $ 57K for Bitcoin could pull ATOM below that level.
Below $ 18, the highlighted area of $ 16-16.7 is a demand zone that will create an attractive area for ATOM to place purchase orders. The next $ 18 test can be used to enter a long position in a scalp trade, targeting $ 19.2 – $ 19.4 and stopping loss of $ 17.76, relative to last week’s price action. This is down to the BTC bulls defending the $ 57,500 area.
Basic Attention Token [BAT]
The Basic Attention Token was valued at $ 0.75 at the time of writing and a support level of $ 0.734 was just below where BAT was traded. However, the momentum was shaking positively even in the 4 hour time frame.
The RSI fell below the neutral 50 as the stochastic RSI headed into the oversold territory. BAT is likely to fall below $ 0.734 in the next few hours, and the next demand zone for BAT is likely to be $ 0.685-0.7.