IOTA/USD
On the intraday chart, the price of the famous cryptocurrency has marked an upside gain of 4.1%. Afterward, the coin opened the day trading at $0.2789 and is now wrapping at $0.2909.
However, IOTA/USD pair first exhibited a bullish move that pushed that price up to rally near a high of $0.3097. It later took a short-term consolidation phase below $0.3018 significant resistance level.
A slight dip to a low of $0.2850 was later on seen before the pair’s price embarked to a steady flow below $0.2868 level that defined the current price at $0.2909.
Despite, the gain, the market trend of IOTA was sideways, as reflected by the intertwined moving averages. Notably, the parabolic SAR is now above the candles that signify a sell signal.
Additionally, the moving averages are currently flattish, and the RSI is hovering between the midpoints that suggest a range-bound in the near term that might be followed by a strong breakout.
Outlook
If sellers manage to break the price below $0.2783 support level, a downside correction near $0.2500 may be encountered. Conversely, an upside move beyond $0.3018 resistance level may hit further upward rally near $0.4000.
Tron (TRX/USD)
TRX/USD has also outperformed, having given an intraday gain of 4.5%. TRX moved from the opening value at $0.0166 and is now changing hands at $0.0174.
However, the upside correction was seen at the beginning of the session that was followed by an upside price fluctuation to a high of $0.0183 at around 20:00. Nevertheless, rejection of higher prices was seen that led to a sideways movement below $0.01700 for the rest of the day.
The RSI was seen hovering between midpoints that indicated indecisive market condition, which also foresee consolidation phase below $0.01700 level for a short-term. However, the parabolic SAR is now above the candles that suggests a short position for investors.
Outlook
If the bear run strengthens up, then a break below $0.0170 is likely, as it could result to a further downside rally near $0.01650.
Tezos (XTZ/USD)
XTZ/USD pair was trading yesterday at $1.0461, but today it has gone up by a margin of 3.06% in the last 24hrs.
The upward move showed an increase in buyouts due to strong buying pressure. Besides, an upside correction to a high of $1.1123 as from 12:00 to 20:00 was seen. That later took a break for a short-term period of consolidation below $1.0952 level. The pair’s price later dropped slightly to trade below $1.064 that defined the current price at $1.0792. The fact that the price dropped from $1.0952 to $1.064 showed that the bullish action is being overcome by the bearish nature.
Looking at the technical indicators, the parabolic SAR is above the candles, and the long-term SMA has crossed above the short-term SMA. Also, the RSI is currently below average, that is a negative sign as it suggests incoming bearish outlook.
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