XRP, Tezos, And Algorand price Analysis
Looking at the on-chain analysis of XRP in the last few hours, the digital asset has been trading in a fragile thread with either a breakout above and below likely. In the same vein, Tezos overcame all factors against it and made a bullish run to rest at $2.84, with a bullish run still in the cards.
Algorand on its own equaled its latest all-time high, which is created in August last year. This shows that several mid and low cap coins are doing well in the crypto market, though a clear pattern has not been established.
XRP trading analysis
XRP made a small bullish run after it moved close to the $0.28 price mark, but the selling activities on the part of traders were the deciding factor as the digital asset was involved in another bearish run rest at $0.272. XRP is currently trading around the $0.283 price region, which signifies that the digital asset’s price has seen a considerable loss when it’s 24-hour chart is considered.
With things looking this way, the digital asset might need a bull effected rally to safely make it back to its resistance figure without triggering the bears in the process. Also, the XRP has little or no volatility, according to its Bollinger Bands. This shows that the bearish run might continue, and a new surge is not expected in the coming days. Its RSI also shows that it is close to the 50 level, which means that if traders push it to the overbought region, it is only a matter of time before it makes a new surge.
Tezos and Algorand trading analysis
While XRP has been trying to trigger a bullish momentum, Tezos has been making some “funny” moves in the crypto market as of late. The recent move saw the bears return the digital asset from its previous high to rest a little bit below its last support level. While traders thought the market was beginning to suffer, the price left the bearish region and triggered a bullish run to rest well above the previous price region. With the price now gaining momentum to make an upward surge, analysts have mentioned that it could well go over and hit the latest resistance figure of $3.
If the bulls fail to carry the asset, it would be open to the bears who would hit the prove close to $2.68. A look at its stochastic level shows that the digital asset is now making a move to leave the oversold region, and if this happens, it will make a bullish run to move out of its previous reading circle. Also, analysts have mentioned that the asset’s price could be stabilized if it finally trades over its present support level.
Algorand, on its part, has just peaked and has set a record for an all-time high, a record which was the last set in August last year. The market is now doing well after it registered a 16.7% increase to close out yesterday’s trading day. Even though the coin is trading well in the last few days, its Relative Strength Index shows that the bears might trigger a decline in the coming days because its bullish run is almost done.
