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XRP Stumbles Hard as Bear Rips Through Market; Multiple Alts See Double-Digit Dips

September 20, 2021 by Akash Anand

The new week opened with a bear crunch as the cryptocurrency market saw almost all of its September gains being wiped off. As Bitcoin plummeted on Monday, the altcoin market followed suit. XRP was one of the biggest losers on the charts with the cryptocurrency dropping to 7th place.

At press time, XRP was trading for $0.91 after a 13.6 percent dip ripped through the market. The double-digit gains were also reflected in the 13.8 percent weekly price dip. XRP’s price action was similar to a lot of other alts which witnessed vertical crashes. The wipeout caused the market cap to fall to $42.5 billion, a significant 8 billion lower than Binance Coin.

XRP 1 hour:

XRP’s immediate support fell to 0.91 after maintaining a steady price action for the past 14-days. The avalanche was triggered by the formation of two massive red candles following which the support stood no chance.

Bollinger bands: The lower Bollinger band crashed towards the bottom of the graph as the cloud opened up. Losing the price hold can lead to further crunches in the market share.

Relative Strength Index: The RSI fell below the oversold zone, a sign of the depleting number of HODLers. According to the indicator, a large sell-off occurred right as the price broke immediate support.

Chaikin Money Flow: Understandably, the CMF curved below the zero lines. This meant that the capital leaving the XRP marker had overtaken the influx.

XRP 1 day:

Long-term support was still holding the level formed in August. The $0.52 level was not under threat yet, even as the last red candle loomed ominously.

Relative Strength Index: Just like in the hourly charts, XRP’s level fell towards the oversold zone. This was in stark contrast to the highs achieved in August.

Chaikin Money Flow: The sharp decrease only added to the bearish environment as the capital was also reduced. A large push of new investors was now required to prop the graph back up.

Bollinger bands: The two bands diverged from one another as the Bollinger cloud held the potential for more growth. Currently, the latest red candle was en route falling out of the cloud.

Uniswap [UNI] jumps over bear pit as price ticks green across the board

September 15, 2021 by Akash Anand

The cryptocurrency market’s movement over the past couple of days has left a lot of investors scratching their heads. After a week of bearish dips, the ecosystem seems to have broken its pattern of stagnant price actions. Uniswap [UNI] was one of the tokens leading the bullish charge with double-digit gains in the weekly spectrum.

Uniswap’s hourly performance allowed the crypto to overtake Terra on the chart with the token now holding 11th place. At the time of writing, UNI was trading for $24.85 as the market cap climbed to $15.3 billion. The 8 percent hourly climb also spurred the daily volume to clock a mighty $646.46 million.

Uniswap 1 hour:

In the short term, Uniswap tended to form a valley after the dip and rise. The immediate support was calculated at $21.6 which was protected after the latest price hike. As Uniswap moved on the charts, it was important to keep a tab on the rising user base.

Parabolic SAR: The last 3 markers stayed below the price candles, indicating a shift in the sudden hike. This comes after a 48-hour shift where the Uniswap sided with the bull.

Relative Strength Index: Uniswap’s RSI fell back into the trading threshold after staying above the overbought zone for a day. The cryptocurrency’s September 13th hold was its highest point this month.

Bollinger band: Both the upper and lower band converged towards each other after the formation of a Bollinger cloud. The red candles continued to stay in the cloud as the price settled.

Uniswap 1 day:

The long-term support was at $14.3 with the graph struggling to hit its ATH formed in May. Uniswap’s latest green candle allowed it to climb from the throes of a bear pit.

Relative Strength Index: The RSI hit the midway point between the oversold zone and the overbought zone. This meant that the number of users selling their tokens and HODLing their tokens was almost equal.

Bollinger bands: In the long run, UNI’s bands diverged to form the start of a significant Bollinger cloud.

Parabolic SAR: All the markers from the past couple of days stayed below the candles as Uniswap’s momentum shifted downwards. As it stands, the markers pointed to hold on to the cryptocurrency making any massive surges.

Uniswap and the rest of the market were still in the midst of recovery after taking a beating for days. One striking thing about the hike was that the altcoins were performing better than the bigwigs.

Cardano [ADA] Stumbles Under Bear’s Might as Market Bleeds Red

September 8, 2021 by Akash Anand

After an extended bullish run, the cryptocurrency market seems to have hit a red wall. Prices across the board fell rapidly as almost all the major altcoins followed Bitcoin’s footsteps. IOHK’s Cardano, which had been enjoying a stellar September fell into the bear trap with millions wiped off its total market cap.

Cardano’s latest fall came at a time when users were expecting it to cross the $3 mark. At press time, ADA was trading for $2.34 with a reduced market cap of $74.04 billion. An 11 percent price drop lowered the cryptocurrency’s daily trading volume to $11.3 billion. This trading volume was enough to let it maintain its third rank on the cryptocurrency charts.

Cardano 1 hour:

Cardano’s price action over the past 24-hours has been representative of the entire cryptocurrency market. The bear’s takeover caused immediate price supports to crumble with Cardano’s settling near the $2.2 mark. The price capitulation period still seems to be unclear as the red candles had overtaken their green counterparts.

Relative Strength Index: Cardano’s hourly RSI struggled to break away from the oversold zone as the graph slowed on its ascent. The low hold meant that more and more users were selling their ADA rather than hodl it.

Chaikin Money Flow: The CMF in the short term was surprisingly bullish with a k shaped curve forming upwards. This indicated the strong capital flow into the Cardano market.

Bollinger bands: The sudden price drop created a massive Bollinger cloud, the likes of which have been unseen for weeks. Both the upper and lower Bollinger bands converged towards one another after an exciting 12 hours.

Cardano 1 day:

Cardano’s price crunch was visible in full view on the long-term chart with strong red candles dominating the past week. After hitting all-time highs towards the end of August, Cardano’s current bearish predicament was evidence of a market reigning in its assets.

Chaikin Money Flow: In the long term, the CMF had fallen from its perch above the zero line. If the cryptocurrency continues on the same path, Cardano would soon crash below it for the first time since July.

Relative Strength Index: The panic caused by the bear run was enough for a large number of investors to sell their assets. A strong RSI would contribute to a confidence boost in the ADA ecosystem.

Bollinger bands: The Bollinger bands fell into a parallel restricted movement with a large cloud mouth. Cardano’s movement in bearish lands may cause the cloud to open up and be unable to contain the red candles

Polkadot [DOT] keeps sails up as all-time high looks closer than ever before

September 3, 2021 by Akash Anand

As the cryptocurrency market moved green numbers on the board, some coins were faring better than their counterparts. Over the past couple of weeks, altcoins grew much more significantly than Bitcoin to set new records on the board. Polkadot [DOT], the ninth-largest cryptocurrency saw a whopping 32.5 percent growth over the past week.

On Friday, DOT was trading for $32.7 with a total market cap of $32.41 billion. A 2 percent hourly growth also lifted the trading volume to $2.5 billion. As it stands, Polkadot’s market cap was approximately $5 billion more than its neighbor USDC which held a daily volume of $3.2 billion.

Polkadot 1 hour:

Since the start of September, Polkadot’s price has stabilized into a bullish curve with the technical indicators pointing to a price crunch soon. With the immediate support at $29.6, Polkadot surprised investors by surging even through a stagnant market.

Bollinger Bands- The upper band and the lower band converged towards another thereby reducing the possibility of a large Bollinger cloud. Polkadot’s price curve took a downturn once the rush ended.

Relative Strength Index-After Polkadot’s surge ushered in a new wave of HODLers, the RSI fell over the previous 24-hours. Investor support was necessary for the price upkeep with the line still safely near the overbought zone.

Chaikin Money Flow- For now, DOT was still bullish on the CMF scale. The hold above the zero line was a sign that the capital coming into the Polkadot market was more than the capital leaving the market.

Polkadot 1 day:

In the long term, Polkadot was climbing towards its All-time high regions. The long-term support at $0.6 was untouched since its formation at the end of July. Although the cryptocurrency was heading towards earlier highs, it was more slow-paced and calculated this time around.

Relative Strength Index- The RSI climbed towards the overbought threshold after long-term investors pulled in new ones. If Polkadot can sustain this momentum and generate more user interest, it has the potential to climb higher on the crypto ranks.

Chaikin Money Flow- Polkadot’s CMF spiked from the zero line as new holders start building their own portfolios. The last time DOT’s outflow capital trumped the incoming capital was in the middle of July.

Bollinger bands: Polkadot’sn spike over the past few weeks triggered a massive Bollinger cloud, the effects of which had been subdued by a price pullback.

Polkadot Surges on Thursday As Altcoins Pump Positive Sentiment into Market

August 18, 2021 by Akash Anand

The cryptocurrency market beat expectations this week after continuing on its bullish tangent. Bitcoin and the rest of the altcoin industry surged over the past couple of days with many looking to achieve monthly highs. After Solana, Polkadot was the altcoin making the biggest splash in the digital asset ecosystem.

Holding the rank of the ninth-largest cryptocurrency, Polkadot has slowly and steadily built its repertoire in terms of both market cap and volume. At the time of writing, Polkadot was trading for $26.24 after a 5 percent hike on Monday. Over the past 7 days, DOT jumped by a whopping 28 percent to register a daily trading volume of more than USDC.

Polkadot 1 hour:

In the short term, Polkadot was outperforming all of its previous timeframes. The collective decision by the technical indicators showed strong bullish patterns across the board. The behavior shown by the PSAR pointed to strong green momentum in the coming days. The weekend is predicted to show a change in market movement with many analysts looking out for price capitulation in the next 48 hours.

With an uptick in the Chaikin Money Flow indicator, DOT holders could rejoice in the fact that more capital was entering the market. The CMF hold above the zero lines was enough traction for the MACD to head towards a bullish crossover. DOT’s MACD histogram also sided with the bull after climbing to higher amplitudes than its red counterparts.

Polkadot 1 day:

Polkadot’s daily chart signified good times for the cryptocurrency climbing out of its lowest support since this January. Since July 19, Polkadot registered multiple green candles to hit prices last seen in May. The current pattern included five consecutive green candles after an immense push by investors this week.

Long-term CMF was in a great position after positive market sentiment pushed it to 0.2. This performance was similar to the climb in January, albeit more green this time around. Polkadot’s daily MACD line and the signal line had moved parallel to each other while the histogram marked 26 days of ticking green. The upward price push injected new life into the market as displayed by the PSAR markers.

BNB paves bullish path as other altcoins try to keep pace

August 16, 2021 by Akash Anand

BNB joined the rest of the altcoin market in a price flux as the bull and the bear butted heads. Binance’s native asset was in the bull’s good books as it enjoyed double-digit gains over the week. Binance Coin maintained its position as the only cryptocurrency to have green tickers across the hourly, daily, and weekly time spectrums.

At press time, BNB was trading for $424.6 with a market cap of $65.6 billion. A 6 percent daily hike elevated BNB’s trading volume to $1.8 billion, which included stats from the largest cryptocurrency exchanges. BNB still had ways to go before it could surpass its nearest competitor, ADA.

BNB 1 hr:

Binance Coin’s latest rally allowed the indicators to fall in the bull’s court. The support held near the $375 mark, a bounce point for the cryptocurrency’s price.

BNB’s Bollinger bands diverged from one another with users hoping for a significant cloud formation. The RSI grazed the overbought zone indicating a massive increase in the number of people HODLing Binance Coin.

Binance Coin’s CMF pushed for a bullish atmosphere as the graph spiked above the zero line. A steeper CMF graph pointed to increased capital in the BNB y.

BNB 1 day:

In the long term, Binance Coin was picking up steam just like its counterparts. With the long-term support untouched since April, BNB had a safe run-up.

In the daily charts too, BNB’s technical indicators were on the bull’s team. Although the Bollinger cloud was smaller than the hourly spectrum, it signified positive momentum. Both the long-term CMF and RSI ascended vertically with the increase in funds and users.

XRP Price Action Changes Direction As Support Suffers

August 3, 2021 by Akash Anand

Cryptocurrency price fluctuations have dominated the ecosystem in the last few days as traders hedged on shorting or longing for their positions. XRP enjoyed a decent July with proponents expecting a rise after the support settles. The cryptocurrency continued to trade above 70 cents with a market cap above $30 billion.

XRP 1 hour:

XRP’s hourly chart showed a step-wise climb for the cryptocurrency shorted by the latest bear run. Since the price hike on July 28, XRP’s immediate support had lifted slowly but surely only to be wrecked by the bear. As markets opened on Tuesday, Bitcoin’s price action continued to stay bearish. The lower Bollinger band diverged from its parallel movement indicating a dip in prices.

The Relative Strength Index tried moving away from the oversold zone after crashing towards it yesterday. This slight spike could be attributed to more people buying into the XRP market. The Parabolic SAR markers also sided with the bear with the markers staying below the price candles.

XRP 1 day:

Long-term readings for Ripple’s cryptocurrency looked better than the hourly charts as a majority of the indicators blinked green. The Parabolic SAR for the daily charts stayed under the markers pointing to a clear shift in momentum.

Although the Relative Strength Index fell over the past week, it was still closer to the overbought threshold than it has been in over 90 days. Once users HODL their XRP, the buying pressure will only increase. In the long-term scenario, the Bollinger bands diverged strongly from one another. After displaying 5 consecutive green candles, XRP users were looking forward with bated breath for the next run.

XRP fights back against the bear as altcoin prices take a hit

July 30, 2021 by Akash Anand

XRP and its counterparts in the cryptocurrency market have gone through a tumultuous time which included price fluctuations and changes in market cap. Although major players like Bitcoin hit a bearish stop, XRP continued its surge to climb to the 6th position on the charts. Bitcoin at the same time was falling by approximately 5 percent in the hourly spectrum.

At press time, XRP was trading for $0.72 with a total market cap of $33.54 billion. The cryptocurrency’s 23.5 percent weekly growth elevated its daily trading volume to $3.55 billion. Many analysts expect XRP to slow down soon to settle into a stagnant price movement.

XRP 1 hour:

Price variations across the board played a pivotal role in boosting XRP’s credentials on the charts. The latest immediate support was raised to $0.69 after a change in buying sentiment.

XRP’s RSI leaned towards the bearish spectrum as the selling pressure overtook the market.

Short-term CMF performed better than the RSI with the graph staying above the zero lines.

Only the PSAR sided with the bull. The markers continuously stayed below the candles as the buying momentum increased.

XRP 1 day:

In the long term, XRP had fallen into a stagnant price movement. A lack of resistance breaks forced the cryptocurrency into a lull with immediate support at 0.55.

Long-term PSAR mimicked the hourly charts as the markers pushed the candles up.

The RSI and CMF were both bullish on the daily chart. According to the RSI, more users held XRP thereby increasing the overall selling pressure. The RSI showed that the capital coming into the XRP market was more than the capital leaving the market.

Cardano [ADA] Bleeds Red as Altcoins Face-Off With Bear

July 19, 2021 by Akash Anand

The cryptocurrency market’s slowdown over the past few days has resulted in millions being wiped off in terms of market caps and trading volumes. Bitcoin’s lack of movement may be a reason why other coins are taking a turn in the bear pit. Cardano [ADA] was one of the altcoins in the tumble, falling in double-digit numbers over the past week.

IOHK’s cryptocurrency, hailed as a successor to trading currencies, fell across the board after a stagnant price hold. At press time, ADA was trading for $1.17 with a total market cap of $37.52 billion. The 5th placed cryptocurrency was well ahead of its nearest competitor XRP in terms of trading volume and market cap.

Cardano 1 hour:

Cardano’s hourly performance took quite the tumble as the cryptocurrency fell from highs as much as $1.302. The current immediate support was calculated to be $1.152 after which the price bounced to its current value of $1.171.

According to the Parabolic SAR, ADA was coming out of its bearish slump as the markers stayed below the price candles. Continued buying pressure will be indicated by a prolonged bottom hold by the markers.

The cryptocurrency’s RSI indicator sharply fell below the zero line as more users sold their ADA holdings. Since the start of the month, Cardano has found it difficult to maintain its RSI graph above the zero line for long periods of time. Cardano’s CMF crashed to one of its lowest points of the month with chances for a small revival in the near future.

Cardano 1 day:

Daily performance was slightly different from earlier as Cardano found it difficult to escape the bearish rut. Cardano’s long-term resistance was at $1.17 with the Parabolic SAR markers holding above the price candles since the middle of May.

Cardano’s long-term RSI moved parallel to the oversold zone while hitting one of the lowest levels this year. The CMF skirted on the zero line as the capital influx and the capital leaving the market canceled each other out. Experts believe that continued developments would restore the faith in investors and in turn generate traction for the cryptocurrency.

Dogecoin tries to fend off bear as price recovery takes a hit

July 12, 2021 by Akash Anand

The new week has seen the cryptocurrency market obtain a greenish tinge after a dip last week. Major cryptocurrency pumped on Monday allowing some coins such as DOGE to climb out of their bear trap. Dogecoin had plummeted on weekly timeframes with the last recorded 7-day fall being 10.7 percent. Although there was a slight fall in market cap, investor sentiment allowed Dogecoin to stay in 7th place.

At press time, DOGE was trading for $0.22 with a market cap of $28.2 billion. The weekly 10.82 price percent drop brought the DOGE trading volume down to $765.412 million. Its rapid climb over the previous weeks has allowed DOGE to be within striking distance of XRP’s market cap. An increased buying pressure would be the ideal boost that DOGE needs to get out of its bearish predicament.

Dogecoin 1 hour:

Readings from Binance showed that Dogecoin’s value had been gradually decreasing since the start of July. After a reverse breakout on the 9th, the cryptocurrency has held a steady price action for the following 48 hours. The immediate support clocked in at $0.19 while the resistance held at $0.256.

According to the RSI, Dogecoin was heading towards some more bear troubles. A sharp dip towards the oversold zone suggested that users were selling their tokens in exchange for less volatile assets. DOGE’s CMF also sided with the bear as the graph fell below the zero line. This came after the cryptocurrency’s struggle to stay in the green zone, something which it has struggled to do this month.

The Parabolic SAR on the hourly chart pointed toward’s DOGE struggle to stay bullish. Markers were below the price candles and could mean a potential bull patch for DOGE soon.

Dogecoin 1 day:

After picking up in April, DOGE has never looked back to go to its previous levels. Peaking in the middle of May, the cryptocurrency has since fallen to more controlled levels. The earlier hype had even lifted Dogecoin’s value to $0.7 after the hype created by Elon Musk.

The Chaikin Money Flow indicator in the long term told a tale of a cryptocurrency struggling to obtain capital infusion. Investors seem to have lost interest in stocking up DOGE like they did back in April and May. Dogecoin’s RSI moved parallel to the midline in the oversold zone. The last time the graph had climbed above the midline was at the beginning of June.

Long-term PSAR markers stayed below the price candles as Dogecoin continued its sustained hold near the $0.2 mark.

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XRP Stumbles Hard as Bear Rips Through Market; Multiple Alts See Double-Digit Dips

XRP 1 hour:

XRP 1 day: