The month of September has, all in all, proved to be a difficult month for the crypto market. The market encountered yet another round of depreciation. Cardano declined over the last 24 hours and inched closer to its immediate support level. AVAX also depreciated after noting a sell signal on its four-hour chart. Finally, Dogecoin was trading at its one-month and half low after experiencing a devaluation of 4.1%.
Cardano (ADA)
ADA/USD, TradingView
Cardano fell on its charts by 3.7% over the last 24 hours and was trading at $2.42. The nearest support line for the coin stood at $2.20. The additional price floors rested at $1.97 and $1.83. As ADA lost its value over the past day, the parameters also remained bearish.
The Relative Strength Index was below the half-line despite noting an uptick. Red bars were visible on the MACD histogram as the indicator met with a bearish crossover. Awesome Oscillator also flashed red signal bars.
If the buying pressure strengthens, the coin might push upwards to touch its first resistance mark of $2.45 and retest its one-week high of $2.60. The other price ceiling rested at $2.78.
Avalanche (AVAX)
AVAX/USD, TradingView
AVAX plunged 7.4% over the last 24 hours after the coin displayed a sell signal. The altcoin was priced at $67.30 and was moving towards its immediate price floor at $64.80. The other support lines, AVAX can find itself on if it continued to fall below the current price level were $55.40 and $48.26, respectively.
On the four-hour chart, AVAX fell below the 20-SMA, indicating that price momentum belonged with the sellers. The relative strength remained below the half-line indicating that sellers preceded the market. Red bars were seen on the MACD histogram. Awesome Oscillator observed red signal bars and a sell signal.
The Relative Strength Index noted an uptick, and in case it manages to go above the half-line, the coin can move on the upside. Resistance marks stood at $73.83 and 79.07 respectively.
Dogecoin (DOGE)
DOGE/USD, TradingView
Dogecoin observed a fall of 4.1% over the last 24 hours and was trading at $0.204. The nearest support remained at $0.192, the current price of Dogecoin marked a one and a half month low for the coin. The price momentum belonged to the sellers, on the four-hour chart, the coin’s price was underneath the 20-SMA line.
The Relative Strength Index was underneath the half-line signifying a loss in buying strength. MACD histogram was also dominated by a prolonged phase of tiny red bars, indicating the same. Chaikin Money Flow was below the mid-line which meant that capital inflows were in the negative.
The uptick on the RSI could bear some good news for Dogecoin, if the indicator moved above the 50-mark, the prices could rise and touch the immediate resistance of $0.213 and then it’s one week high of $0.240. Other price marks which could prove as price ceilings were $0.273 and then at $0.314.
