XRP, HBAR enter bearish territory while Decred continues on an upward trajectory
Almost all altcoins were on a bearish run following the March 12 crash. After a few weeks, the pattern changed and each coin started reacting differently. Since the start of April however, some altcoins have surged significantly. XRP, Decred, Dogecoin, Hedera Hashgraph have all recorded uptrends. However, as per analysis, some of these coins might be heading for a short-term downward breakout in the coming days.
XRP
XRP, the third-largest coin has followed an uptrend since March 12, as seen in the attached chart. With the start of April, the coin saw 21% increase and since then the coin has found support at $0.17. However, the coin might be on a bearish run starting, further confirmed by CMF indicator, which rests below the zero line.
Resistance: $0.20, $0.24, $0.28, $0.33
Support: $0.17, $0.15, $0.14
Press time price: $0.19
Market Cap: $8,619,692,305
24-hour Trading Volume: $1,610,206,030
Hedera Hashgraph
Hedera Hashgraph with a market cap of $133,463,813 USD and a circulating supply of 3,980,786,232 HBAR, has been quite stable for the past few weeks. The coin has recorded a slow downtrend and as the descending triangle pattern indicates, coin might continue this bearish run. Awesome Oscillator indicator and Stoch RSI indicator also hint at a further downward breakout.
Resistance: $0.041, $0.048, $0.05, $0.06
Support: $0.03, $0.02
Press time price: $0.03
Market Cap: $133,451,650
24-hour Trading Volume: $5,049,586
Decred
The 41st coin Decred has also been quite stable over a couple of weeks but unlike Hedera Hashgraph, it has recorded an uptrend; the coin has held support at $11.57. As the ascending triangle pattern suggests, the coin will have a further upward breakout. MACD indicator hinted at a potential bullish crossover and RSI indicator resting above 50 also signaled at an upward breakout.
Resistance: $13.088, $15.98, $21.95, $24.70
Support: $11.5, $10.04, $9.27
Press time price: $12.6
Market Cap: $145,343,284
24-hour Trading Volume: $91,903,609
OhNoCrypto
via https://www.ohnocrypto.com
Rakshitha Narasimhan, Khareem Sudlow
