THELOGICALINDIAN - After trading lower for the majority of Mondays affair cryptocurrency prices were boring starting to acquisition abutment with a few markets ambulatory as we headed against the end of the day
Cosmos
One such crypto was cosmos (ATOM), which was the better gainer in the top 20, aggressive by about 10% to alpha the week. ATOM/USD climbed to an intraday aerial of $36.23, which is about $10 from its best aerial (ATH), which it hit on January 7th.
Monday’s move came as prices rebounded from the contempo abutment akin of $31.00, afterwards briefly falling to a accessory abutment point of $27.05 over the weekend. That move, which now appears to accept been a apocryphal breakout, has led to beasts blame prices higher.
Looking at the blueprint beneath will additionally appearance that a downwards cantankerous of the 10-EMA (red) and 25-EMA (blue) has taken place, which about signals bearish momentum, however, with the abutment akin actuality held, it may additionally beggarly prices could be branch higher.
According to the RSI indicator, ATOM/USD is currently tracking at 50, which agency it is neither oversold, nor overbought, acceptation that amount drive could about-face either way.
Solana
Despite Monday’s selloff slowing as the day approached a close, prices of solana (SOL) remained lower.
SOL/USD which is currently #8 in the crypto top 10, was trading over 11% lower (as of writing), hitting an intraday low of $81.23 in the process.
The blueprint beneath shows that Solana has formed a bottomward triangle, afterwards a band of lower lows, with today’s abatement sending prices to their everyman akin back August 27th.
Prices briefly bankrupt out of the amount attic of $85.15 beforehand in today’s session, about accept back rebounded aloft this level.
Currently, the RSI is tracking at 23, which is in oversold territory, and may be ambience the way for beasts to re-enter on Tuesday.
What do you anticipate about creation and solana’s amount action? Let us apperceive your thoughts in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
