Tron can be projected to break above its $0.067-resistance on the back of strong trading volumes and a bullish MACD. Ontology could retrace towards $1.47, but its uptrend was expected to remain intact. Finally, the technicals for Dogecoin reflected a balanced market since the price was trading between $0.056 and $0.052 on the charts.
Since a breakout above the $0.053-level, Tron has seen high volatility in the market. Huge swings carried the price towards its upper ceiling at $0.067, while the $0.053-support cushioned losses in the event of a southbound move.
At the time of writing, Tron had settled within a tight channel as volatility escaped the market, according to the Bollinger Bands. Nevertheless, trading volumes were just shy of the $2 billion-mark and a northbound breakout seemed possible over the next few sessions. The MACD closed in on a bullish crossover and backed a favorable short-term outcome.
The altcoin’s gains over the last 30 days amounted to over 90.2% as Ontology registered a strong uptrend since a comeback from late-February levels. However, the market did show some signs of exhaustion. The 24-hour trading volumes had dropped by 13%, while the indicators pointed towards a reversal.
The MACD witnessed a bearish crossover and the RSI continued its southbound trajectory from the upper zone. While a dip below $1.59 seemed unlikely, additional support levels could be found at $1.47 and $1.39 in a bearish scenario.
The ADX on Dogecoin noted a reading of 13 as the price moved between $0.056 and $0.052. This underlined a weak trend in the market and sharp price movements were unlikely going forward. If the price does dip towards $0.05, then some buying opportunities can be presented. A hike above $0.06 would likely be matched by selling pressure, but stabilization at the aforementioned level would lead to bullish movement over the long run.
The Awesome Oscillator was bullish-neutral, with weak momentum in the market. A pickup in the same could signal a breakout, but the price was still dependent on cues from the broader market.
Published at Tue, 30 Mar 2021 18:00:58 +0000