EOS/USD pair has recorded a bearish outlook in the last 24hrs. The downward price action gained support from the 21-day moving average that hovered above the 7-day moving average over the past 24hrs.
The market began the day trading at $4.12, followed by a short-term period of consolidation that consolidated near support level $4.09. The RSI indicator X was also seen trading between level 40 and 60 that signaled a lack of dominance in the market.
The support level was later shifted down near $4.02 that showed an increase in sellouts. In addition, the RSI indicator X is currently heading towards the oversold market territory thus indicated reduce confidence in the coin by the investors.
All the indicators are at the moment indicating a further bearish signal since the 21 day MA is currently above the 7 day MA. If the bulls fail to breach above $4.20, EOS could plunge below $0.35
On an intraday chart, the market of BTC seemed to have lacked momentum since is trading on a sideways momentum. The ranging market was reflected by the intertwined moving averages that faced resistance level near $11460.0 and support level near $11343.6.
The support level was later broken due to the high increase in selling pressure that dipped the price action down to a low of $11215.0. This showed that sellers had dominated the market in the last 24hrs.
The top-performing cryptocurrency is down by 0.55% since it moved from $11352.0 to now trading at $10989.0. The RSI indicator, which is heading towards the oversold market territory has also signaled the downward pressure thus decrease in investor’s sentiments.
A further bear market is to be expected since almost all the indicators indicate a bearish sign. With support level being breached and the fact that the 21 day MA is dominantly above the 7 day, New targets should be set at $10,900.0.
TRX/USD has been trading in a sideways trend, the digital currency currently stands at $1.3 billion by market valuation and has declined by 3.09% in the past 24 hours. Tron began the session yesterday trading at $0.02050331 and is presently at $0.020165.
The market performance indicated by the RSI indicator X is on an uptrend and is currently heading north that signaled increase n buyouts. This showed that most investors are keeping their TRX holding since they are anticipating for much better prices in the near future.
Despite the gain, there is an overall bearish outlook on the chart that signals incoming bearish outlook. The 21 day MA is currently above the 7 day MA and is presently behaving as the price resistance level. New target should be set at $0.019.
Disclaimer: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ZyCrypto. none of the information you read on ZyCrypto.com should be regarded as investment advice, Every investment and trading move involves risk, you should always conduct your own research before making any investment decision.