Corrections seemed to be the norm across the board, at the time of writing, after most altcoins on the market depreciated on the charts as Bitcoin consolidated its own position. While the likes of Tezos, IOTA and Crypto.com Coin climbed to the back of Bitcoin movement, these alt were soon on their way down when the correction wave took over. With that said, it was too early to suggest that any of these cryptocurrencies were trending downtrend, at the time of this writing.
Tezos, the crypto that was ranked 17th on CoinMarketCap’s charts at the time of this writing, has seen significant losses on its price charts in the past two months. In fact, since XTZ hit an all-time high in mid-August, the cryptocurrency has lost more than 50% of its value. XTZ’s aforementioned losses were marked by the strong downtrend that the cryptocurrency has been on since it hit its ATH on August 13.
Over the past week, while Tezos rose a significant 14% on the charts, the corrections soon lowered the value of the cryptocurrency by more than 8%. However, despite such corrections, Tezos kept noticing Returns to date 61%, at the time of writing this article.
XTZ technical indicators highlighted a certain degree of optimism in the market, despite the recent depreciation in value. While the Parabolic SARs The point markers were well below the price candles, MACD line was above the signal line on the charts. However, it should be noted that the latter was approaching a bearish crossover, and a trend reversal could be in the works soon.
IOTA’s price movements were very similar to XTZ’s, with the former rising behind Bitcoin’s movement on the charts, before posting its own corrections. In fact, at the time of writing, IOTA was trading back at its July 2020 levels, with the cryptocurrency well below its mid-August 2020 highs.
While prevailing market trends remained largely bearish, a look at the charts revealed that the downtrend IOTA had been in had stalled a bit, with the cryptocurrency trading sideways for a while.
The same was evidenced by the uniformity of Bollinger Bands’ upside, an interesting finding as IOTA was quite volatile for the past week. Furthermore, while the Chaikin money flow rose sharply beyond 0.20 when IOTA went up, dived as soon as the corrections appeared.
IOTA was in the news a few days ago after co-founder Sergei Popov revealed that IOTA 3.0 will be “completely fragmented.”
Crypto.com currency [CRO]
The native token of the Crypto.com chain, CRO, until a few months ago, was one of the best performing crypto assets on the market, with CRO noticing a strong uptrend for weeks, while the rest of the market struggled to strengthen and consolidate its gains after Black Thursday. However, over the past two months, the aforementioned uptrend has been interrupted by sideways movement and short, but sharp declines in the price charts.
Crypto.com Coin technical indicators highlighted the same as while Relative Strength Index was treading near the oversold zone on the charts, the Awesome oscillator in the image of increasing pressure in the CRO market.
This is a machine translation of our English version.
Your opinion is important to us!