Connect with us


Cardano, Polkadot, Cosmos Price Analysis: 06 August



Source - Unsplash

Bitcoin and Ethereum’s movement was not followed by all altcoins rising on their respective charts. ADA remained range-bound while some altcoins such as DOT presented mixed signals. On the contrary, ATOM reacted positively and was heading towards its immediate resistance level after gaining by 4.7%

Cardano [ADA]

Cardano, Polkadot and Cosmos Price Analysis: 06 August

ADA/USD, TradingView

Following a minor 0.6% hike, ADA’s price, at press time, stood at $1.36. It bounced back from the $1.33 support level a few days ago, but ADA failed to topple its $1.38 resistance level.

The Awesome Oscillator exuded mixed signals as both green and red signal bars were visible over the last few trading sessions, negating any particular direction the altcoin had. The Bollinger Bands contracted, at press time, underlining the chances of further range-bound movement. 

The Relative Strength Index dipped and closed in around the equilibrium zone.

Polkadot [DOT]

Cardano, Polkadot and Cosmos Price Analysis: 06 August

DOT/USD, TradingView

DOT saw some consolidation, with its price ranging between $17.91 and $19.64. It had attempted to test its immediate price ceiling of $19.64 a couple of times over the last week, but sellers denied a breakout. As the technical indicators painted a bearish signal, with the Awesome Oscillator observing red bars and the MACD showing red histograms, the price could retrace and rest at $17.91.

The Relative Strength Index, however, was in a bullish zone as it was spotted near 60. 


Cardano, Polkadot and Cosmos Price Analysis: 06 August

ATOM/USD, TradingView

Priced at $13.20, the altcoin recorded gains of 3.9% over the last 24 hours. Its uptrend was validated by the dotted markers on the Parabolic SAR which lined up underneath the price candles. A further increase in price could push ATOM towards the $13.64 resistance.

However, in case the price moves below this level, the altcoin can find support at $12.67. Overall, ATOM flashed a positive trend as the Awesome Oscillator pictured the strengthening of green signal bars accompanied by a bullish crossover on the MACD.

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.

Please select your Email Preferences.

Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.