Following Bitcoin and Ethereum’s slight recovery, many altcoins started to register positive price actions. ADA managed to remain above the $2.50 price floor after recording 5.1% gains over the last 24 hours. TRON broke above its price ceiling of $0.095 and rose by 4.3%.
On the other hand, EOS traded laterally with a slight decline of 0.3% and was valued near its one-month low price mark of $$4.53.
Cardano (ADA)
ADA/USD, TradingView
ADA was priced at $2.55 after recording a 5.1% increase over the last 24 hours. The altcoin managed to sustain its prices over the $2.50 support region. With sustained revival, the coin can soon revisit its one-week high mark. Overhead resistance stood at $2.72 and then at a multi-month high of $3.09.
On the 4-hour chart, the price candlesticks were placed above the 20 SMA which indicated that momentum belonged with the buyers. MACD flashed green bars on its histogram. Awesome Oscillator also depicted green signal bars. Relative Strength Index stood above 50-mark, however, it threatened to fall below the mid-line.
If the buying pressure falls below the 50-mark, ADA would dip to $2.50, which coin had dipped below multiple times over the last week. On further loss of value, it could decline to $2.13 which was its three-week low. Additional price level lay at $1.91, which has been its one-month low price point.
Tron (TRX)
TRX/USD, TradingView
TRX went up 4.3% over the last 24 hours and was valued at $0.100. The coin just toppled over its resistance mark of $0.095. On further upward movement, the coin can retest its five-month high at $0.106. Parameters for the coin remained bullish as TRX recovered considerably over the past week.
Buying pressure was strong as the Relative Strength Index approached the 75-mark. Awesome Oscillator showed green signal bars, which indicated bullish movement. MACD‘s histogram has been demonstrating green bars affirming the same notion above.
In the event of prices dipping, the first support mark lay at $0.095. The other support lines awaited at $0.088, which the coin had dipped below, twice since the beginning of September. Another push below the aforementioned price ceiling could land TRX on the one-month low of $0.081.
EOS
EOS/USD, TradingView
EOS displayed consolidation with a minor fall of 0.3% over the last 24 hours. At this current price, EOS was trading close to its one-month price level. Immediate support for the coin lay at $4.53. The technical chart, however, pointed towards positive price action for the coin.
Awesome Oscillator flashed green signal bars. Capital inflows remained in the bullish territory. Green bars on MACD’s histogram were shortened in size, and the coin could dip further below if prices continue to hover around the same region over upcoming trading sessions.
In case of a price reversal, the coin’s overhead would retest its one-week price point of $5.20 and then at $5.60. The additional price ceiling stood at $6.35 at the multi-month high.
