Analysis
Cardano, Cosmos, VeChain Price Analysis: 20 August
Cardano was one of the biggest gainers over the last 24 hours as it appreciated by 19.5% owing to the anticipation around Alonzo’s upgrade. ATOM noted gains of 2% and flashed signs of consolidation. Finally, VET eyed the $0.139 resistance level on the charts.
Cardano [ADA]
ADA/USD, TradingView
ADA was valued at $2.50, at press time, with the crypto having hiked to a new ATH too. The last time the altcoin was trading around these levels was back on 16 May.
If ADA maintains its uptrend, the psychological resistance level could be found at $3.00.
The Awesome Oscillator flashed strong bullish price action with strengthened green signal bars. A bullish crossover was seen on the MACD, along with growing green histograms.
The Chaikin Money Flow noted a rise in capital inflows as ADA hit an all-time high.
If the price declines, the support levels ADA would test would be $2.13 and $1.91.
Cosmos [ATOM]
ATOM/USD, TradingView
ATOM recorded gains of 2% over 24 hours as it traded at $19.28. Steering away from its immediate support level of $17.14, ATOM prepared to touch $20.31 for the second time in a week. The altcoin noted signs of consolidation as the indicators flashed mixed signals.
The Relative Strength Index remained quite bullish near the 60-mark.
The Awesome Oscillator gave off mixed signals as it pictured a red signal bar. Correspondingly, the MACD also demonstrated declining green histograms as it prepared to approach a bearish crossover.
If ATOM trades at its press time price level for a few more sessions, the price will oscillate around the $17.14 support line.
VeChain [VET]
VET/USD, TradingView
VET logged gains of 12% and was priced at $0.132, at press time. If VET can sustain its uptrend, its price action will be pushed to $0.139.
The Awesome Oscillator flashed a buy signal as it registered green signal bars. The MACD also noted green histograms after a bullish crossover.
Finally, the Bollinger Bands expanded slightly – A sign of high market volatility.
A price reversal would mean VET landing on the $0.113 support region from which it broke off yesterday.
