This could be a good trading strategy for Cardano, Binance Coin and XRP 


It has been a blended day for the cryptocurrency business. With Bitcoin above $47K, Dogecoin appreciated by 10.8% whereas MATIC solely logged minor positive factors of 1.5% after breaking by $1.51 resistance. Conversely, XRP declined minorly on the charts, regardless of holding itself at a multi-month excessive of $1.29, 

MATIC

MATIC, XRP and Dogecoin Price Analysis: August 16

MATIC/USD, TradingView

MATIC was valued $1.53 at press time. The alt pushed north from $1.36-support, the place it traded over the previous few days, and toppled $1,51 resistance. If costs maintain at this present stage, MATIC may check $1.56 resistance. 

MATIC’s four-hour chart flashed blended indicators because the MACD displayed pink bars on the histogram. The indicator additionally depicted a bearish divergence with respect to the alt’s value, signifying probabilities of a value correction. If costs retrace, the alt may relaxation on the $1.36 assist line. 

Conversely, Superior Oscillator had inexperienced sign bars indicating bullish motion, together with an uptick seen on the Relative Energy Index

XRP

MATIC, XRP and Dogecoin Price Analysis: August 16

XRP/USD, TradingView

XRP coin skilled a slight decline of 1.0% over the past 24 hours. Costs final touched the present stage on 19 Could, publish which, the coin once more fell to the $1.22 assist stage. The same consequence awaited XRP if bears assume market management.

Technicals for XRP emanated bullish indicators because the Superior Oscillator noticed pink sign bars indicating bearish motion. Bollinger Bands diverged closely, indicating sharp probabilities of elevated market volatility.

Relative Energy Index traded within the overbought territory which may set off a value reversal.

Dogecoin (DOGE)

MATIC, XRP and Dogecoin Price Analysis: August 16

DOGE/USD, TradingView

Dogecoin shot up by 10.8% with costs at $0.338, steering away from its $0.273 assist stage, the alt was seen eying its instant resistance of $0.344. The technical evaluation of DOGE was bullish in nature.

Superior Oscillator famous amplified inexperienced sign bars which translated to bullish stress available in the market. Chaikin Cash Circulation, regardless of noting a small decline in capital inflows was seen effectively above the half-line contained in the bullish territory.

Relative Energy Index was pictured above the overbought territory with probabilities of a pullback. In such a case, Dogecoin may commerce across the $0.314 assist stage.



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By Xnode24

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