Altcoins

Dogecoin, ETC, Fantom Price Analysis: 23 March

With Bitcoin closing in above the $42,000-mark, Dogecoin witnessed a bounce above its 4-hour 20/50 EMA. However the bulls nonetheless wanted to ramp up the cash inflows into the crypto to take care of its ongoing comeback.

Furthermore, Ethereum Basic hit its four-month excessive on 23 March whereas now displaying overbought indicators on its technicals. Equally, Fantom’s technicals additionally favored the consumers however depicted a weak directional development.

Dogecoin (DOGE)

DOGEUSD 2022 03 23 12 03 43

Supply: TradingView, DOGE/USD

After nosediving to match its February lows, DOGE recovered in an ascending broadening wedge (yellow) on its 4-hour chart. The alt noticed an almost 15% ROI throughout this restoration week whereas dealing with resistance on the $0.1262-mark.

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Its latest rally was shunned by the 200 EMA (inexperienced) whereas the bulls endeavored to take care of the 50 EMA (cyan) assist intact. Now, the $0.12-zone continued to supply robust resistance.

At press time, DOGE traded at $0.1216. The RSI continued its gradual retracement from the overbought mark whereas sustaining the mid-line assist. From right here on, a doable restoration eyed to check the 61-mark earlier than a retest of its equilibrium. In the meantime, the CMF sharply fell beneath the zero-line and revealed the lowering cash volumes into the crypto.

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Ethereum Basic (ETC)

ETCUSDT 2022 03 23 13 11 06

Supply: TradingView, ETC/USDT

Because the sell-off part initiated, ETC misplaced greater than a 3rd of its worth (from 11 February excessive) and touched its one-month low on 24 February. Since then, the altcoin has been on a roll because it noticed a staggering 86.85% ROI in simply the previous week.

After getting into into worth discovery, ETC jumped above its 20/50/200 EMA and flashed a one-sided bullish momentum. Consequently, it touched its four-month excessive on 23 March.

At press time, ETC traded at $47.11. The RSI was deep into the overbought area whereas displaying a powerful bullish bias. Over the previous three days, it shaped a bearish divergence with the value. This trajectory might stall the present rally within the close to time period.

Fantom (FTM)

FTMUSDT 2022 03 23 13 21 24

Supply: TradingView, FTM/USDT

Since FTM misplaced the $1.9-level, the bulls haven’t been capable of finding an unrestrained rally. Consequently, it misplaced almost 70% of its worth (since 17 January) and hit its six-month low on 15 March.

Whereas sustaining the $1-mark, FTM stored marking decrease peaks till it flipped the important $1.3-mark from assist to rapid resistance. A detailed above the trendline resistance (yellow) would reignite the probabilities of breaking above the $1.3-level.

At press time, FTM was buying and selling at $1.28. The RSI noticed a sturdy restoration from the 42-support. It now displayed a bullish edge and even reclaimed the mid-line assist. However, the ADX depicted a considerably weak directional development for FTM.

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