Almost, whole crypto space is bleeding red since the early trading hours with Bitcoin price losing its bullish momentum. The cryptos like Dogecoin price, DOT price, Cardano price, etc plunge even harder than before. However, the crypto community is attempting very hard to uplift the declining trend by infusing more and more volume.
Cardano(ADA) Price Follows Declining Trend
The Cardano price spiked with the listing on Coinbase, yet the short-lived spike faded very soon, shedding the gains notably. The plunge continued until recent times, where-in the price is currently following a descending parallel channel.
Despite trends in the reverse inclination pattern, the price appears to be on the verge of breaking the upper barriers soon. The price has experienced multiple rejections at $1.2 and hence surpassing these levels are mandatory.
The price consolidation has now entered the third consecutive day with negligible change in the trading volume. At the time of writing, the ADA price is $1.15 with a drop of 2.93% in the past 24 hours. The market cap has also plunged to above $36 billion, dropping the position to 4th in the cryptocurrency ranking lists.
- The resistance levels are formed at $1.21
- The support levels are formed at $1.08
- The indicators point out at a buy signal
Polkadot (DOT) Price Dropped More Than 7%
The Polkadot price has maintained a stable trend since the beginning of the current month. The asset hit the highest levels above $40 and also declined close to $30 yet did not drop below these levels. And hence DOT price smashing $100 was under the misty clouds.
The DOT price in a recent couple of days plunged hard shedding nearly 15% of the gains. However, the price, currently, is not manifesting any signs of a breakout, yet attempting hard to sustain at the current levels.
At the time of writing, the DOT price is $34.97 with a drop of nearly 6.91% in the last 24 hours. The market capitalization has also dipped by about 6.82% recording $36,916,787,870 dragging the asset to the 6th position.
- The resistance levels stand at $37.56
- The current price is very close to the support level at $34.65, failing to which the next levels are at $32.37
- The indicators are currently neutral
Dogecoin(DOGE) Price Sheds 5% of Its Gains
The Dogecoin price is currently declining at a notable rate with an immense deplete in the trading volume. However, a second wave of the rally can be expected at any time as the RSI is rising steadily.
The DOGE price appears to have consolidated for quite a long time and woefully broke towards the south instead of surging. Yet it is attempting very hard to regain the lost momentum to bounce back to the yearly highs.
At the time of writing, the dogecoin price is $0.0551 with a drop of nearly 4.11% in the past 24 hours. The market capitalization also has declined by 4.11%, recording $7,095,274,134, securing the 17th position on the ranking lists.
- The resistance level stands at $0.05852
- The support level stands at $0.05265
- The indicators point out at a sell signal
Collectively, it’s a pretty ‘downtrend’ day in the crypto space with many cryptos like Bitcoin price, ethereum price, etc plunge hard. Following the major cryptos, the Cardano price, dogecoin price and Polkadot price also dropped miserably. The interesting part would be the levels the assets would revisit before a bounce back.