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Even though the likes of Bitcoin and Ethereum were trading in the green at press time, they were yet to recapture their ATH levels from a few days ago. While Bitcoin was valued at close to $47,000, ETH was just shy of the $1,500-mark. Following the same, many of the market’s altcoins entered a state of consolidation while awaiting stronger cues from the broader market.

Such was the case with EOS, NEO, and DGB, with each of these cryptos trading within a fixed channel at the time of writing.

EOS

EOS’s price chart pictured some choppy movement, with the price trading within the range of $3.8 -$3.46, at press time. The Awesome Oscillator showed that momentum was fluctuating from one side to the other, but lay with the buyers at the time of writing. However, a break above the upper ceiling looked unlikely, considering low trading volumes and muted buying activity.

The Bollinger Bands were compressed and underlined the low volatility in the market. Even so, the bands should be observed over the next few sessions since an increase in volatility can lead to sharp movements in price.

Neo [NEO]

Neo cut its losses at the $25.27-support after the price dropped by over 30% following the broader market correction. While some positive movement was seen on its 4-hour chart at the aforementioned support level, the price moved lower once again after the bulls failed to flip the $42.5-resistance. Shorter candlesticks over the last few trading sessions indicated that the price had entered a period of consolidation.

The On Balance Volume moved in tandem with the price, showing that the trend is likely to carry forward as well. Even a bullish crossover in the MACD might not fuel a northbound breakout considering the weakness in the price.

DigiByte [DGB]

At press time, DigiByte was trading at $0.054, up by nearly 6% in the last 24 hours. Even though the state of its overall market was quite similar to its counterparts EOS and NEO, the indicators sided with the buyers in the short-term.

The Stochastic RSI moved north and the Awesome Oscillator’s green bars moved towards the half-line. A move above the press time resistance level would present the next ceiling at $0.072. Traders awaiting the breakout should keep an eye out for a spike in the 24-hour trading volume.

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A business graduate with a keen interest in emerging markets across South East Asia. As a financial journalist, he covered stocks and market reports across Australia and New Zealand as well.

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Bitcoin (BTC) and Ethereum (ETH) are attempting to find support between their 0.5-0.618 Fib retracement levels.

XRP (XRP) is following a descending resistance line. It is expected to break out.

TRON (TRX) has fallen below the $0.061 support level, but is expected to reclaim it.

Iota (MIOTA) has broken out from a descending resistance line.

Neo (NEO) and Cosmos (ATOM) are trading inside parallel ascending channels. They have failed to break out above a crucial resistance areas.

BTC has been decreasing since reaching an all-time high of $61,884. It has since fallen below the $57,800 level, validating it as resistance. 

Currently, BTC is trading just above the $52,500-$50,250 support area. This range is created by the 0.5-0.618 Fib retracement levels. A bounce is expected at this level.

Technical indicators are undecided. Nevertheless, BTC is expected to eventually reach a new all-time high price.

ETH has been moving downwards since March 13, when a high of $1,943 was reached. 

Currently, ETH is approaching the main support area found at $1,618. Besides being a horizontal support level, this is the 0.5 Fib retracement level of the entire upward movement. 

While there are no definite reversal signs, the short-term RSI has reached oversold territory. 

The previous time it did this, it generated a bullish divergence before a significant bounce.

Therefore, it’s possible that the same will occur this time.

XRP has been increasing since Feb. 23, when it reached a low of $0.365. So far, it has reached a local high of $0.591. 

XRP is following a descending resistance line and is currently trading just below it. 

Technical indicators are bullish. The Stochastic oscillator has made a bullish cross, the MACD has turned positive, and the RSI has moved above 50. 

Therefore, XRP is expected to break out. 

The next closest resistance area is found at $0.63.

On March 20, TRX reached a high of $0.06850. This seemed to have caused a breakout above the $0.06 resistance area.

However, TRX has fallen back below this level since. 

Nevertheless, there is a confluence of Fib support levels near $0.054.

It’s likely that TRX bounces near these levels and moves upwards. If so, the next resistance would be found at $0.08.

The long-term trend still remains bullish. 

If TRX can clear the 0.618 Fib retracement resistance, it could eventually move all the way to $0.10.

IOTA has broken out from a descending resistance line that had been in place since Feb. 19. In addition, it managed to move above the $1.55 horizontal resistance area. 

Technical indicators support the continuation of the upward movement. Both the MACD and RSI are close to making important crosses. The former is crossing into positive territory while the latter has crossed above 70. 

The next closest resistance area is found at $2. A retest of the $1.55 area is eventually expected.

NEO has been increasing since Feb. 22. Throughout the increase, it has been following an ascending parallel channel. 

This is often a corrective movement.  Furthermore, NEO failed to move above the 0.618 Fib retracement resistance at $46.

Currently, NEO is trading just above the middle of this channel.

There is bullish divergence developing in the short-term, thus a bounce is expected. 

However, the trend cannot be considered bullish until NEO breaks out from the channel.

Similar to NEO, ATOM is trading inside a parallel ascending channel. 

Unlike NEO, it has fallen all the way to its support line. This is a sign of weakness. 

There are short-term divergences in place, indicating that a bounce is likely. However, ATOM is expected to eventually break down from the channel. 

If so, the next support would be found at $15.

What altcoins are you currently eyeing up and why? This is the first time i have done a TA daily roundup so If you enjoy this sort of content, consider following me and also tipping the article. 

Also if you are on Twitter, why not give me a follow and start some conversations? You can find me here - https://twitter.com/dizzlecrypto.

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XTZ formed a descending triangle, although its breakout direction wasn’t confirmed yet. The OBV formed a series of higher lows to underline rising buying volume.

This was an indication that the breakout can head north, although a dip to $2.2 was still possible before a move towards the resistance level at $2.56. A more conservative target for the breakout would be $2.45.

A close below $2.1 would indicate that bulls were losing traction and the notion of a bullish breakout would be invalidated.

NEO formed an Adam and Adam double top, with the left peak seeing considerably more trading volume than the right. However, despite a close under the valley floor, the price still reversed itself and recorded a weak bounce upwards.

This can be attributed to Bitcoin and Ethereum’s positive performance in the market at the same time, which likely influenced NEO’s movement.

In fact, there was very little rise before the double top for NEO to actually reverse into.

Finally, the RSI showed neutral momentum at the time of writing, but it was wading into bearish territory after testing the 50-zone as resistance, indicating that a downtrend was in progress. Barring any strong Bitcoin movement in the next few days, it seemed likely that NEO would descend to test the $16.6-support level.

The idea of an inverted cup and handle formed by AAVE a week ago was quickly invalidated by the strong gains it posted above the $60-level. It was trading at $87, at the time of writing, an impressive 44% gain in the span of six days.

AAVE was trading within an ascending channel, and the price tested the lower boundary of the channel as support. The MACD was well above the zero, but formed a bearish crossover.

A close below the channel could see AAVE revisit the $74-support level.

News of the Aave Protocol V2 launch a few days ago saw the prices surge, and the bulls might be able to drive the prices higher with the $100-region being a possibility.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.

Tezos, FTX Token, Crypto.com Coin Price Analysis: 9 December

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After Bitcoin managed to claw itself back to the $34,000-level, the altcoin market posted slight gains on its charts. Similarly, altcoins such as EOS, NEO, and DOT were flashing green, at press time, as the market’s buyers alleviated some of the losses made over the past 24 hours.

However, there was uncertainty in the market as all three altcoins gave mixed signals and did not provide a definitive position moving forward.

Panic selling over the past couple of days dragged EOS lower by over 30% before the market’s bulls finally cushioned the price at the $2.49-support level. However, EOS came in contact with a strong support level at $2.76 and the price moved slightly lower once again. The ongoing battle for control between the buyers and sellers could continue and the price could trade within its present channel over the next few trading sessions

The MACD showed that bearishness was decreasing in the market as the red bars fell in length below the equilibrium mark. A bullish crossover could boost the price beyond its current resistance at $2.76.

On the other hand, the Chaikin Money Flow stabilized below zero and showed subdued inflows of capital towards EOS. Consolidation between EOS’s press time channel seemed likely, unless capital pours back into the cryptocurrency.

Polkadot’s downward spiral halted at $7.52 as the buyers provided some relief to prices. For now, its movement was rather unclear as the price traded between $7.52 and $8.81 and did not show any signs of a breakout in any direction.

The cryptocurrency’s price traded on the lower band of the Bollinger Bands and moved towards the Signal line. However, bullish bounceback was not a certainty as the price could remain between the Signal line and the lower band unless a broader market rally pushes DOT towards the upper band.

The Stochastic RSI was slightly more decisive in proving a path forward for DOT as the index eyed a move in the overbought region. If the index does reach the upper territory, immediate resistance could be breached and the price could test the next ceiling at $8.81.

NEO fell towards its immediate support at $21.28 after failing to scale above the $24.96-mark. In the short term, the momentum could rest with the sellers as the indicators were largely bearish on NEO.

The Relative Strength Index was dipping towards the neutral zone. The immediate support level could be in danger of being breached if the index shoots towards the oversold zone in the near future.

The Parabolic SAR’s dotted markers were above the candlesticks and confirmed the bearish nature of the price.

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A business graduate with a keen interest in emerging markets across South East Asia. As a financial journalist, he covered stocks and market reports across Australia and New Zealand as well.

Polkadot, Ontology, FTX Token Price Analysis: 17 January

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Binance Coin dropped below the $268.6 support level due to selling pressure, but it stayed above its 200-day moving average. Read more

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In the courts, lawyers representing Ripple asserted that XRP was no different from Bitcoin or Ethereum, and the SEC has deemed those non-security assets while XRP was deemed a security. The SEC countered by saying that Bitcoin is not one single entity, whereas Ripple was, and furthermore had created and issued XRP. On a longer timeframe, XRP reversed its downtrend at $0.43 and broke out of the descending channel it had been trading within since mid-February.

On the charts, the short-term price action was bullish for XRP. There was a region of former supply at $0.052-$0.528 that XRP broke past in recent hours, and could retest as a region of supply in the next day few hours. This retest can be used to enter a long position on XRP.

As previously stated, the price stalled the bearish pressure at the $0.43 mark and has since broken out upwards. Descending channel breakouts generally target the peak of the channel as a target, and in this case, the $0.63 mark is the technical target for XRP.

The 38.2% retracement level at $0.539 is also a level of support just above the $0.52-$0.528 area.

The technical targets pointed at a bullish short-term move for XRP.

The RSI oscillated about the neutral 50 as price dithered beneath the former supply region. The RSI shot sharply upward alongside price, and at the time of writing the most recent closed trading session showed a value of 70 on the RSI.

The Chaikin Money Flow also climbed sharply above +0.05 to show net capital flow into the markets, and the sessions where XRP shot upward had significant trading volume.

The Directional Movement Index also showed a strong uptrend in progress as the ADX (yellow) climbed above 20, and +DI (blue) denoted bullish bias.

The $0.539 and $0.528 areas can be used to buy XRP on a pullback, with a technical target of $0.63 for XRP in the coming days. Aggressive traders can set a stop-loss at $0.51 in the scenario in which these bids are filled.

Crypto.com Coin, Bitcoin SV, Decred Price Analysis: 22 March

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.

Ethereum, Dogecoin, XRP Price Analysis: 28 March

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With Bitcoin crossing the $37,000-mark a few hours before press time, many of the market’s altcoins recorded substantial spikes in their trading price. This was the case for popular alts like Litecoin, Ethereum Classic, and NEO, with hikes of up to 20% observed on the price charts.

Litecoin [LTC]

Litecoin’s price rose by close to 5 percent in 24 hours, with the crypto trading at $169.9, at press time, after having registered a market cap of around $11.3 billion. While there has been significant bullish momentum behind the coin’s price, the cryptocurrency was coming in contact with strong resistance around the $173-price range. However, if the bulls were to fail, then LTC’s price may need to rely on nearby supports at $147 and $135.

The EMA ribbons seemed likely to help the coin’s price since they had settled below its press time trading price and were likely to offer support. The MACD indicator also looked promising after having undergone a bullish crossover.

Ethereum Classic [ETC]

Ethereum Classic has also been able to see its price appreciate by over 6 percent in 24 hours. The coin, at press time, was trading at $7.64 with a market cap of $893 million. The uptrend on the cryptocurrency’s chart came in contact with the resistance level at $7.7 and seemed to be on the verge of breaching it. However, there were also strong supports at $6.8 and $6.3, if a trend reversal were to take place.

The MACD indicator saw the Signal line go past the MACD line, forming a bullish crossover, while the RSI indicator remained well inside the overbought zone – a common sign of bullish momentum for the d>NEO registered a significant price hike on the charts, but it soon came in contact with a strong resistance level. At press time, NEO had a trading price of $20.1 and it was trying to breach its immediate resistance level again. However, if NEO is unable to propel itself above this level of resistance and endures a minor price correction, then, the support level at $18 may be extremely crucial in stabilizing the coin’s price.

The Bollinger Bands continued to remain quite wide, signaling the presence of substantial amounts of volatility in the price. Further, the RSI indicator was heading into the overbought zone, strengthening the chances of the price continuing to move north.

Polkadot Price Analysis: 07 January

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Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

The Bitcoin market has pulled itself out of the earlier $45k-$48k range and has been trading above $57k. At the time of press, the largest cryptocurrency was being traded at $58,335 with a market capitalization of $1 trillion.

The sudden surge which carried BTC to its new all-time high above $60k was followed by a correction. The value of BTC stumbled to $53k, however, it was since pushed higher by the traders.

Bitcoin six-hour chart

The above chart noted these highs and lows witnessed over the past few days. BTC’s current market has been showing signs of consolidation and it may continue with this trend in the mid-term.

Reasoning

The Bollinger Bands had remained diverged after the correction and surge. This push in the price has resulted in the bulls remaining in charge of the current trend. The signal line slipped under the candlesticks indicating the rising pressure. Despite the correction, the 50 moving average was noting that the Bitcoin price has been building higher as it remained under the price bars.

Meanwhile, the Relative Strength Index [RSI] highlighted that as the buying pressure in the market rallied the price also surged. At the time of press, the RSI value was 54, which was close to the equilibrium zone. Currently, the buying and selling pressures were equalized given the value of BTC.

However, despite the bullish market, the momentum has remained low. This indicated that the market may not be prepared for a price swing and may continue to move along the current price range.

Conclusion

The above chart of Bitcoin indicated that the sudden surge and fall has caused the current value to move sideways. This sideways movement may continue as the buyers and sellers evened each other out in the market while the momentum remained low.

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Bitcoin Cash, Dogecoin, FTX Token, Decred Price Analysis: 20 March

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Bitcoin Cash Price Analysis: 27 March

Bitcoin Price Analysis: 27 March

Polkadot Price Analysis: 26 March 

Dogecoin Price Analysis: 26 March

Monero Price Analysis: 22 March

Uniswap Price Analysis: 21 March

The cryptocurrency market has been seeing great volatility over the past few days. This volatility has changed the existing trends in the market for almost all altcoins.

With a market capitalization of $4.171 billion, Monero [XMR] was pushed down to the 28th position on the CoinMarketCap list. The volatility in the market has been pushing the digital asset and at the time of writing, the market was once again seeing changes as XMR was being traded at $233.10.

Monero six-hour chart

The above chart of Monero indicated that the price noted a common trend of a surge followed by a period of consolidation since the beginning of the month. The digital asset has maintained this move as it witnessed a surge in value a couple of days ago, pushing it past the resistance at $225.56. Currently, the price has been consolidated between $225 and $241.

As the market progresses, there were signs that this bullishness in the market may get wiped away as the bears came charging.

Reasoning

Although the market was witnessing great volatility earlier, the current XMR market indicated low volatility. This was highlighted by the convergence of Bollinger Bands. Meanwhile, the signal line which was supporting the price until now was seen moving above the candlesticks.

Whereas the 50 moving average was moving parallel to the candles offering support a little above $225.

Meanwhile, the Relative Strength Index has been noting that irrespective of the volatility in the market, the buying and the selling pressures in the market have remained mostly equal. At the time of writing, the RSI was valued at 52 which meant the buying and the selling pressures were now evened in the market.

Conclusion

A lack of momentum and volatility has maintained XMR’s consolidatory trend. However, the bears were catching up. XMR may have to put to test the support at $225 and if it fails, the value of XMR will drop close to $211.

Litecoin, FTX Token, Compound Price Analysis: 22 March

Uniswap, BitTorrent, DigiByte Price Analysis: 22 March

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Aave, Cosmos, Monero Price Analysis: 28 March

Monero, Zcash, Chiliz Price Analysis: 27 March

Bitcoin Cash Price Analysis: 27 March

Bitcoin Price Analysis: 27 March

Polkadot Price Analysis: 26 March 

Dogecoin Price Analysis: 26 March

Despite recovery being the norm for most of the last 36 hours, the last few trading sessions in the market saw some corrections setting in, despite the generally bullish trend. The same was evidenced by the price actions of Polkadot, SUSHI, and THETA, with each of these alts noting inconsistencies in movement.

Polkadot [DOT]

Polkadot, the sixth-largest cryptocurrency by market cap at press time, was one of the altcoins to recover well following the industry-wide depreciation on the 24th of March. In fact, DOT seemed to be very close to recovering all its losses too. At press time, however, DOT’s steady recovery run had stalled somewhat, with its 8.9% being followed by swift corrections.

That being said, it seemed unlikely that the same would constitute a sustained trend reversal as while the Relative Strength Index was holding firm above 50, the Parabolic SAR’s dotted markers continued to be placed well below the price candles.

DOT’s press time movements were in line with those projected by a recent price analysis, with the same projecting that DOT is unlikely to register a major price swing in any direction in the near-term.

Polkadot was in the news yesterday after FireProtocol decided to jump ships from Heco.

SushiSwap [SUSHI]

Like Polkadot, SUSHI too recovered most of its losses in the days after the aforementioned market-wide depreciation. However, unlike DOT, SUSHI was quick to fall again, with a visible downtrend pulling the value of the crypto lower down the charts. Over the last 36 hours, while the popular DeFi token did climb by almost 5%, some corrections were visible at the time of writing.

Thanks to the same, SUSHI was once again trading at a level well away from its local top on the charts.

As far as SUSHI’s indicators were concerned, while the mouth of the Bollinger Bands was closing in to suggest a fall in near-term volatility, the MACD line was closely intertwined with the Signal line, underlining the hesitancy to choose a price trend.

According to many, however, SUSHI is likely to provide traders with double-digit gains in the short-term.

The altcoin made headlines a few weeks ago after it was one of the cryptos chosen to be listed by Coinbase in its latest listing round.

THETA 

To many, THETA has been the surprise story of the year, with the altcoin surging over the past few weeks to enter the much-vaunted top-10 of CoinMarketCap’s charts. In fact, in doing so, THETA overtook the likes of Litecoin, Chainlink, and Bitcoin Cash, all cryptos that are perhaps better-established in the market.

After hitting an ATH on the charts, however, corrections set in, with the cryptocurrency yet to recover from the same completely, at press time. Oddly, while a majority of the last 2 days saw the larger crypto-market go on a recovery run, THETA’s price action took the alt lower down the charts, with the crypto registering losses of 6.7%.

The seeping bearishness in the THETA market was underlined by its indicators as while the Awesome Oscillator pictured an uptick in negative market momentum, the Chaikin Money Flow was dropping below zero to highlight the strength of the capital flowing out of the market.

Despite the aforementioned fall in value, however, the cryptocurrency is widely expected to surge again and touch the $40-mark in the near-term.

Cardano, Neo, VeChain Price Analysis: 30 March

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Jibin is a news editor at AMBCrypto. With over three years of experience as a political writer, he primarily focuses on the political impact of crypto developments. A graduate in Law and International Relations, his writing is by and large focused on cryptocurrencies from the political and financial perspective. A Liverpool FC fan. YNWA

The past 24-hours saw increased bullish momentum in the overall crypto market as Bitcoin went past its ATH and surged past $60k. Since then BTC’s price has managed to move slightly upward. Despite the altcoin market having had a traditionally high correlation with Bitcoin, the bullishness hasn’t been uniform. Cardano’s sideways movement continues as the coin continues to trade in a narrow range.

At the time of writing, ADA was being traded at $1.091 with a market cap of $34.8 billion. In the past week’s time, the coin has endured a dip of over 3.5 percent and noted a 24-hour trading volume of over $2 billion.

Cardano 1-day chart

Cardano’s price has been continued in a narrow range over the past week. There hasn’t been enough momentum in the market for its price to move in either direction. The resistance at $1.29 continues to be a formidable barrier and the past few days have seen the price failing to go past this range.

This has led to increased sideways movement and given the overall bearish nature of ADA’s long-term market, it won’t be long before ADA heads towards its immediate support at $0.78. One can argue that if the coin fails to see strong bullish momentum in the near term, and the resistance level at $1.29 continues to remain unbreached, in the coming week, ADA’s price is quite likely to see a dip, giving traders with short positions an opportunity.

Rationale

The MACD indicator illustrates this bearish sentiment in ADA’s market. The signal line continues to hover quite above the MACD line and after having endured a bearish crossover, there seem to be no signs of a reversal. The RSI indicator concurs and continues to remain in the neutral zone with the indicator heading towards the oversold zone.

Important levels to watch out for 

Resistance: $1.29

Support: $0.78, $0.57

Take Profit: $0.78

Stop Loss: $1.26

Risk/Reward: 1.22

Conclusion 

The price of ADA needs to breach its immediate resistance in order for its rangebound price action to come to an end. If the coin fails to breach the resistance level in the coming 24-hours then one can argue that a drop to its immediate support at $0.78 is inevitable for ADA. This is likely to happen over the course of the coming week.

XRP, Monero, Ontology Price Analysis: 14 March

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Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

Cardano Price Analysis: 25 February

The cryptocurrency market has been dealing with a lot of volatility over the past couple of days. Although the surge in price dragged the digital assets out of a consolidation phase, the correction has been pushing the price of altcoins down. The third-largest cryptocurrency with a market cap of $39.86 billion, Binance coin [BNB] was trading at $256.78.

Binance Coin [BNB] one-hour chart 

The above chart of BNB highlighted how the price of the digital asset was on a gradual downtrend. After hitting $270 the price saw a further drop and was currently at $259.18.

At the time of press, the coin found support at $254.48 and has been holding onto this level. Given the bearishness in the market and the strength of the BNB market, we may be looking at a period of consolidation.

Reasoning

The BNB market was noting a sudden surge in volatility as the correction set in. However, the market has turned bearish since it started to trend lower, but the selling pressure increased as the asset encountered a sudden drop.

However, the buyers were trying to stabilize the price of BNB and pushing it higher from the support. This was indicated by the Relative Strength Index that had dipped in the oversold zone but had now reversed. The value of the indicator was still close to the oversold zone but was pointing towards the equilibrium zone.

Crucial levels

Entry-level: $258.95 Take profit: $270.65 Stop-level: $251.27 Risk to Reward: 1.52

Conclusion

The Binance Coin market may have suffered a strong correction but the price has been holding above support at $254.48. Despite the bearish signs in the market, the value of BNB may move sideways as the remaining crypto market recovers.

Why it’s crucial to keep track of Bitcoin exchange deposits at the moment

XRP, Cosmos, BAT Price Analysis: 15 March

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Binance Coin, Monero, Basic Attention Token Price Analysis: 21 March

Binance Coin Price Analysis: 20 March

Bitcoin Price Analysis: 20 March

Binance Coin, Cosmos, Dogecoin Price Analysis: 19 March

Binance Coin, Ontology, Verge Price Analysis: 17 March

Bitcoin Cash Price Analysis: 15 March

Binance Coin noted exponential growth within the first three months of 2021. The digital asset has been returning 590% in year-to-date to investors and was currently seeing the price stabilize above $260.

At the time of writing, BNB was valued at $267.24, whereas its market capitalization hit $41.425 billion making it the third-largest digital asset in the market.

Binance Coin [BNB] chart

The above chart of the Binance coin was indicating the value of BNB has experienced a sudden surge and drop. This surge helped it hit $300, however, the correction pushed the value back under $250. The price has since been built higher and was currently at $267.

The current price was stabilizing and was holding on to the support at $260 and may continue to consolidate at the current level.

Reasoning

The Bollinger Bands that were diverged due to high volatility have now converged. This convergence of the bands has been indicating the reduced movement of the BNB price. As BNB moved sideways the bands indicated that the market was not expecting a price swing anytime soon. However, this sideways movement could be allowing bearishness to seep in.

The 50 moving average and the signal line were crossing over the candlesticks. This suggested that although the price moved sideways, the trend might be flipping.

Meanwhile, the Relative Strength Index [RSI] remained at equilibrium. This level indicated that the current price was being supported by both buyers and sellers. While the MACD indicator also highlighted this reducing bullishness in the market with green bars fading.

Conclusion

The current BNB market has been seeing the price gain stability above $260. The price may remain at this level for a while, however, with bears starting to creep in, the traders may want to be alert for a trend reversal.

Bitcoin: Is this the deciding factor for further price discovery?

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Bitcoin Cash Price Analysis: 27 March

Dogecoin, Polkadot, Binance Coin Price Analysis: 27 March

Bitcoin Price Analysis: 27 March

Polkadot Price Analysis: 26 March 

Dogecoin Price Analysis: 26 March

Bitcoin Cash, Bitcoin SV, Binance Coin Price Analysis: 26 March

Many of the market’s altcoins share a high correlation with Bitcoin. At the time of writing, Bitcoin was being traded at $52,593 and saw a marginal price hike of over 0.3 percent in the past 24-hours.

Altcoins like IOTA, Litecoin, and Polkadot have also seen the bearishness withdraw during the same time frame and are now inching upward on their respective price charts.

IOTA

IOTA was trading at $1.44 and noted a market capitalization of over $4 billion. For the past few weeks, the coin traded mostly sideways and this trend seems to be changing at the time of writing. There is increased bullish momentum in IOTA’s market at the moment and the coin may head toward its immediate resistance around the $1.87 price range. The coin also has strong support that has been tried and tested multiple times at $1.26.

Technical indicators however looked bearish at the time of writing. MACD indicator underwent a bearish crossover and Stochastic indicator continued to fall well into the oversold zone. This could signal that a trend reversal was in the works and IOTA may witness a short-term price correction.

Litecoin [LTC]

Litecoin is currently recovering from the strong bearish pressure it faced from 21-25 March. The coin was valued at $176 and has a market cap of over $11 billion. If the upward price action were to sustain, LTC would soon come in contact with resistance at $209, there is also another resistance around the $243 mark; however, it is unlikely that LTC will reach that price level in the coming week. There are also two strong supports at $162 and $137, if the bears were to take control once again.

MACD indicator underwent a bearish crossover and a reversal doesn’t seem likely in the short-term. RSI looked promising and is now moving away from the oversold zone and is currently in the neutral zone.

Polkadot [DOT]

Polkadot currently occupies the 6th spot on CoinMarketCap’s list and was trading at $30.7. The current trading price of the coin is close to the support at $28.3 and if the price were to see a further price drop, then there is also adequate support around the 21.1 range. The past 24-hours saw DOT’s price increase by a marginal 1.7 percent and if the uptrend were to sustain then DOT may soon be faced with resistance around the $41.1 price range.

EMA ribbons have now settled just above the coin’s trading price and are likely to offer a bit of resistance toward its upwards price action. MACD indicator saw the signal line go past the MACD line registering a bearish crossover.

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Without this, ‘Bitcoin might have been a fringe asset’

Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

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