A V-High reversal from the $0.162 resistance annihilated your entire March restoration features by dropping the Concord(ONE) value again to 0.116. Responding to the descending triangle sample, the coin value breached the $0.116 neckline and reached the fast assist at $0.1. A fallout from this assist suggests the promoting try for an additional leg down.
- The ONE value dropped 27.6% since final week
- The 50-and-100-day EMA provides dynamic resistance to ONE value
- The 24-hour buying and selling quantity within the Concord coin is $73.8 Million, indicating a 24.3% achieve.
The continuing correction part initiated from the $0.162 resistance tumbled the Concord(ONE) value by 50%. The bear cycle breached some important assist, comparable to 20-day EMA and $0.14, earlier than hitting the $0.116 mark.
The ONE value resonated inside a descending triangle for practically three months and breached the $0.116 neckline on April twenty fourth. The launched bearish momentum made a rapid strike to the neighboring essential assist of $0.1
The ONE value at the moment trades at $0.083, with an intraday lack of 8%. If sellers managed a maintain beneath the $0.1 assist, the promoting stress would intensify and drive the 38% decrease to the $0.053 mark.
As well as, the merchants are aggressively promoting to bullish pullbacks on the descending resistance trendline, and due to this fact, merchants can preserve a powerful promoting sentiment till this resistance is undamaged.
The 50-and-100-day EMAS offers dynamic assist for brief and lengthy bullish pullbacks. Furthermore, the declining nature of those EMAs highlights a bear development.
The Each day-RSI slope has fallen into the overbought area, suggesting the overextended promoting from merchants.
Escaping a bullish crossover, the MACD and sign strains drop decrease into the bearish territory. The rising purple bars on the histogram chart point out sustained promoting from the merchants.
- Resistance ranges: $0.1, $0.116
- Help ranges: $0.72 and $0.53
The offered content material might embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.
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