The cryptocurrency market opened on a mixed trading day today as Bitcoin retreated below $ 47 thousand. However, the industry altcoins showed some gains despite the BTC crash. Dogecoin posted a 5.8% gain, and while ADA posted a 1.9% gain, the indicator for the coin pointed towards bearish sentiments.
The ADA rose 1.9% over the past 24 hours, trading at $ 2.16. Although it traded above the $ 2.0 mark, the charts indicated some bearish trend going forward. If ADA does not hold at its current price level, support for the coin is at $ 1.96.
The Awesome oscillator Flashing red signal bars implying a bearish turn in ADA prices. MACD it also showed possibilities of a bearish crossover.
Bollinger Bands it remained broad and highlighted the potential for greater market volatility. Should the Alonzo update succeed in propelling prices, ADA could retest the immediate resistance at $ 2.20 and eventually break down its all-time high of $ 2.48.
BTC returned on its tracks to the lowest price of $ 46,957, down 1.6%. BTC techniques pointed towards the beginning of a bearish momentum in the market.
Awesome oscillator Highest red signal bars recorded. MACD red bars flashed on its histogram, registering a bearish crossover today. In case of a decline of $ 46,957, BTC would move south to $ 46,197.
The Relative Strength Index The indicator remained positive above the midline despite noticing a drop in buying pressure. If there was a price reversal, BTC could retest its $ 47K resistance mark.
Dogecoin has maintained its uptrend as it posted a 5.8% increase in the last 24 hours. The token was trading at $ 0.30 at press time.
The coin has managed to stay above its $ 0.273 support level and could test immediate resistance at $ 0.312 in the upcoming trading sessions. The four-hour chart showed bullish sentiments for the coin.
MACD green histograms observed after a bullish crossover and Awesome oscillator you also noticed a greater number of green signal bars.
Further, Chaikin money flow posted higher capital inflows and was above the midline in bullish territory. An unexpected drop in prices could cause Dogecoin to rest at the $ 0.273 support line.
This is a machine translation of our English version.
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