All of today’s focus coins are on a Bullish momentum with the upward trend signaled to continue by various indicators. Previously held support levels have been upped and prices bettered. The result of this has been an improvement in investor confidence in these coins despite Bitcoin taking a further dip within the last 24 hours. VeChain, NEO as well as Lisk are headed on an upward momentum, registering O.5%, 3.03% and 1% increase respectively.
VeChain has seen a Bullish run over the last 24 hours, coming from $0.0038 yesterday to the current $0.004. This slight upsurge in VeChain’s value pushed down the Relative Strength Index (A) indicating growing confidence from investors. The RSI dipped slightly indicating slowed market activity – meaning that VET sale offs over fear of losses due to reduced price were few.
Additionally, both Moving Averages were upward facing, with the 9 day EMA(B) crossing over the 30 day EMA (C). The Bullish momentum seems to be dwindling however, as the 30-day EMA is attempting to cross back over the 9 day EMA. Unless the Bulls can increase the upward momentum, VET will start on a downward trend.
NEO beat off a strong Bearish momentum to register a 3.03% increase in its price. The markets reacted quickly to the price surge, many investors making sell-offs which pushed the RSI (A) upwards. This signaled increased buying activity, perhaps out of fear of missing out on the boom.
Increased buying activity saw NEO’s 24-hour volume reach $134 Million with its market capitalization at $513 Billion. The 9-day EMA(C) and the 30-day EMA (B) formed a reverse contracting triangular pattern – indicating a strong Bull Run. In the short term, the Bullish trend is likely to continue as signaled by all the indicators.
As was with NEO, Lisk beat off a strong Bearish trend yesterday to regain its previous price zone as seen in the above chart. This has been followed with a rise in Lisk’s Relative Strength Index (A) as a result of the confidence boost to investors.
The 9-day moving average (B)skyrocketed sharply to cross over the 30 day EMA (C). the tables have however turned and all indicators point towards a slight bearish trend in the short term.