Bitcoin and Ethereum showed signs of consolidation as BTC topped the $ 48,000 mark and ETH struggled to push prices above $ 3,200. Following the same trend, altcoins like Cardano and Polkadot saw limited price movements.
DOT was looking at the immediate support level of $ 24.05 as buyers exited the market. Eventually, COSMOS rose 9% and aimed to retest the price cap of $ 23.29.
ADA’s prices have remained at the same level since yesterday as they were trading at $ 2.89. It showed an area-bound move with chances that prices were next hovering between $ 2.93 and $ 2.66.
Technical indicators pointed to bullish tendencies in the market. An upside could cause ADA to retest the $ 2.93 price cap.
Purchasing power soared as Relative Strength Index stood at 60. Green bars MACDThe histogram of was showing signs of growth, indicating a recovery in bullish strength.
Bollinger bands showed a slight divergence, indicating high opportunities for market volatility. If ADA falls below the current price level, the immediate price floor was $ 2.66 and then $ 2.39.
COSMOS was trading at $ 21.69 after seeing a steep 9% gain in the past 24 hours. The Alt had just plummeted above its immediate resistance of $ 21.50. Any continued move north could cause it to retest the $ 23.29 price cap.
MACD green bars flashed on its histogram, indicating a positive price movement. Purchasing power remained bullish as the Relative Strength Index was pictured at 60.
Great oscillatorThe green signal bars intensified and confirmed the above statements. In the event of a corrective drop in prices, support levels were at $ 18 and then at $ 13.80.
DOT has consolidated over the past few days. At press time, the coin was valued at $ 25.81. As buying pressure slowly subsided, trading around current levels beyond the immediate trading sessions could cause the DOT to hover at $ 24.05 and $ 19.46, respectively.
Relative Strength Index, in line with the above statement, despite an uptrend, threatened to fall below half the line. Receding green bars in the MACD histogram indicated a bearish bullish price action.
Capital inflows remained low as the Chaikin money flow rested below the half-line. If DOT’s price action reverses, it could attempt to break above the $ 26.71 cap and then trade near its resistance level of $ 29.70.