Saturday, July 13, 2024

Technical Analysis: Cosmos Continues to Rise, While Solana Continues to Fall.

As we approach the close of each day, crypto values began to find stability despite going downward for the bulk of the session on 24th January, with some markets rising.

Cosmos

However, a cryptocurrency that was the leading beneficiary in the top twenty at the beginning of the week was Cosmos (ATOM). It increased about ten per cent. USD/ATOM reached an afternoon peak of 36.23 dollars, about 10 dollars more than its all-time peak set on 7th January.

It temporarily dipped below a tertiary critical location of 27.05 dollars during the weekend. But, stocks rallied above the current support level at $31.00 on 24th January. Bulls have pushed up values as a result of that advance. But, it now seems to be a fake breakthrough. USD/ATOM is now hovering at fifty on the RSI Indicator. This shows that it has not peaked or stretched, implying that the market trend might change in any direction.

Solana

The downturn on 24th January slowed as the workday progressed. Solana costs are relatively down at the moment. USD/SOL is now ranked number eight in the cryptocurrency top ten. It is trading nearly 11 per cent down, with an intra-day trough of 81.23 dollars.

Following a string of weaker downtrends, Solana has established a downward triangular shape. The Monday drop has taken values to their lowest point since 27th August. Stocks temporarily went clear of the 85.15 dollars standard rate early in the day, but have subsequently regained above it. The costs may be on the rise. The RSI is now monitoring around twenty-three, that is, in the distressed zone. This might signal a bullish re-entry on 25th January.

https://news.bitcoin.com/technical-analysis-cosmos-climbs-higher-while-solanas-fall-continues/

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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