On three hour charts, a slow uptrend has reverberated across the various cryptos. This is after the coins underwent a bearish rally on February 24 which they are trying to correct. In the markets, Investor confidence is picking and slowly gaining stability. As the crypto markets fell, investors moved quickly to buy the dip in anticipation of better prices. Previous support zones have been upped whereas resistance zones are yet to be tested.
Today’s focus coins performed as follows in the markets over the last 24 hours:
The ZIL/USD pair started off the day selling at $0.0182 and is now at $0.0172. This represents a 12.2% drop in the pair’s price. The drop in price resulted in negative investor sentiments as seen in the RSI (A) which dipped sharply before gaining track. At the moment, support has moved up from $0.0172 to $0.0175 which shows an upward price movement.
All indicators signal a bearish outlook in the coming days. The 9 Day EMA (B) is headed down while the 30 day EMA (C) is upward facing and about to cross over on top. This suggests a bearish rally in the coming days. Unless the Bulls can up their momentum, ZIL/USD is likely to experience a downward price movement.
NANO coin started off on a Bullish momentum yesterday before taking a drastic dip during the day. This was followed by a protracted upward rally that has maintained. Support is set to be bettered as prices look up. This movement has been reflected in the RSI (A) which dipped before embarking on an upward movement. The NANO/USD pair has sold $1.4 Million over the last 24 hour and has a market capitalization of $124.6 Million.
In the coming days, we are likely to experience an upward price movement. This is supported by both the 9 Day (B) and the 30 day (C) moving averages. The two form a contracting triangular pattern between them which signals a Bull Run.
Digibyte has had little to no activity in the last few days. It is currently trading at $0.011 and has sold $1 Million in the last 24 hours. The 30-day Moving average is currently on top but seems set to come down. On the other hand, the 9 day EMA (B) has dominantly been on top and is about to cross back. This suggests a bullish outlook in the coming days.
This Bullish outlook is also supported by market sentiments. They have been steady, neither undersold nor oversold (A). This is to mean that its investors are upbeat that the coin will shoot.