Avalanche, MATIC And FTT Shoot Up By Almost 9%: Next Trading Levels
The crypto market is back with a bullish action post undergoing a price correction very recently. This month overall has been quite volatile for the majority of cryptocurrencies.
Bitcoin zoomed up by almost 6% at press time and was trading above the $48k mark, which reflected across the industry’s altcoins. Today’s global cryptocurrency market cap is $2.37 Trillion, a 4.7% positive change in the last 24 hours. Among the coins that shot up by almost 9% were Avalanche, MATIC, and FTX Token.
Avalanche/USD Four Hour Chart
Avalanche’s price action has soared a couple of times this week; over the last 24 hours, the bulls embarked on yet another upward ride as it logged in a 10.1% gain. At press time, the coin was trading at $118.22. In the last week, AVAX registered a massive ROI of 50%. The chart shows that AVAX has held itself well above its strong support line of $74.17.
Immediate price resistance stood at $136.24, and on the flip side, the support level stood at $109.84. The Relative Strength Index retouched the overbought mark as the asset overvalued at the time of writing.
The Directional Movement Index was positive as the +DI line crossed over the -DI line indicating lessened selling pressure. MACD chose the bulls as the indicator displayed green signal bars. The chances of a price pullback cannot be overruled if the coin might trade near $109.84 and $87.64.
MATIC/USD Four-Hour Chart
Matic’s price action over the month was quite dynamic as the coin dipped and propelled right after quite a several times. At the time of writing, the coin was exchanging hands at $2.29. The overhead price resistance was at $2.70, and a fall below the current price level would cause MATIC to trade near the immediate price floor of $2.06.
The bullish price action has caused buyers to exceed sellers in the market. MATIC secured a 30% ROI in the past week.
The Relative Strength Index was heading towards the overbought zone as the buyers have re-entered the market, and so the indicators continued to favor the bulls.
Please support thecryptocoinreport.com by sharing this post. Also, support us on https://twitter.com/the_crypto_coin and on instagram.com/the_crypto_coin_report/
Read More..
Source: #Coingapecom
Source: thecryptocoinreport.com
#crypto
#cryptonews
#cryptocurrency
#nft
#nftnews
