On the back of robust trading volumes and a bullish MACD, it is possible to forecast that Tron will be able to break above its $0.067-resistance level. There was a possibility that Ontology would retrace toward $1.47, but the bullish trend was anticipated to continue. In conclusion, the technicals for Dogecoin indicated that the market was in a balanced state because the price on the charts was fluctuating between $0.056 and $0.052 at the time.
Tron’s price has been extremely volatile in the market ever since it broke out to the upside above the $0.053 level. Huge swings drove the price closer to its upper ceiling at $0.067, while the support at $0.053 protected it from further declines in the event of a move in the opposite direction.
According to the Bollinger Bands, by the time this article was written, the price of Tron had found stability within a narrow channel as volatility disappeared from the market. Despite this, trading volumes were hovering just below the $2 billion mark, and it appeared as though a breakout to the upside was feasible over the course of the next few sessions. The MACD was getting close to a bullish crossover, which indicated that a positive outcome was likely in the short term.
Because Ontology has been on a consistent upward trend ever since it made a comeback from its lows in late February, the altcoin’s price has increased by more than 90.2% over the past month. However, there were indications that the market was reaching its saturation point. Even though the indicators pointed towards a turnaround, the trading volumes for a 24-hour period had dropped by 13%.
The MACD had a crossover that indicated a bearish direction, and the RSI kept moving further and further south after reaching the upper zone. Although it was highly unlikely that the price would fall below $1.59, additional support levels could be found at $1.47 and $1.39 in the event of a bearish scenario.
As the price of Dogecoin fluctuated between $0.056 and $0.052, the ADX on the cryptocurrency recorded a reading of 13. This highlighted the fact that the market was following a weak trend, and going forward, it was unlikely that prices would experience significant swings. In the event that the price is able to fall towards $0.05, then there may be opportunities to make purchases. If the price were to rise above $0.06, there is a good chance that it would be met with selling pressure; however, if it were to remain stable at the level mentioned above, there would be bullish movement in the long run.
The Awesome Oscillator was in a bullish-neutral state, and there was only a small amount of momentum in the market. A rise in the same could indicate a breakout, but the price was still sensitive to the signals coming from the larger market.