After a bearish weekend, the various cryptos are slowly picking momentum. Generally, the market has been green over the last 24 hours with most Altcoins registering an upward movement. In the markets, investor sentiments are still low with most of them unsure of whether or not to hodl onto their coins.
In the coming days, however, all indicators point towards a Bull Run as the markets attempt at market correction. This is as seen below:
The TRON/USD pair started off selling at $0.02387 and is now at $0.024350 which represents a 1.5% upward trend. The upward movement is TRON’s attempt at market correction after it nose-dived sharply over the weekend. As TRON picked momentum, the RSI (A), also picked slowly. This means that investor sentiments are slowly picking. TRON sold $167 Million in the last 24 hours and has a market capitalization of $1.6 Billion.
The 30 day EMA (C) crossed over the 9 day EMA(B) yesterday but the tables have turned which means that a Bullish outlook is likely in the coming days.
Over the last 24 hours, EOS is up by 0.34%, having started off selling at $3.38 against the current rate of $3.46. This dismal performance has adversely affected investor confidence in EOS with the RSI (A) near the ‘oversold’ area as opposed to the ‘undersold’ area. Sale offs amounted to $3.1 Billion over the last 24 hours which pushed EOS’s market capitalization to $1.7 Billion.
At the moment, all indicators point towards a bearish outlook in the coming days. The 30 day EMA (C) has been dominantly above the 9 day EMA (B) with the two forming a contracting triangular pattern. Unless the Bulls can up their momentum, a Bearish outlook looms.
Despite taking a sharp dip over the weekend, XRP has put up a Bull Run to register an impressive 6.6% turnover in the last 24 hours. This is after it moved from $0.32387 to $0.33435. The direct effect of this Bullish spike has improved investor sentiments in the coin. The RSI (A) came from an undersold area (20) to 60 which represents reduced sale offs. This means investors are confident the coin will pick in price.
The 9 day EMA (B) is tending towards the 30 day EMA (C) in a reverse contracting triangular pattern which shows that better prices are on the way for XRP. Also, the latter EMA is about to cross above the 30 day EMA which supports the impending Bull Run.