Home Coins Cardano (ADA) Cardano, Algorand, VeChain Price Analysis: 24 September

Cardano, Algorand, VeChain Price Analysis: 24 September


The altcoin market continues to demonstrate its close ties to the world’s largest and most dominant cryptocurrency, Bitcoin. As Bitcoin’s price fell on the charts at the start of the week, the same was replicated by popular altcoins such as Cardano, Algorand, and VeChain, with price drops of up to 20 percent noted on the charts.

Cardano [ADA]

Source: ADA/USD, TradingView

Cardano, owing to its falling market capitalization, had dropped out of the top-10 and was trading at $0.077, at press time. In fact, the previous week has not been kind to the cryptocurrency as it saw its price depreciate by over 18 percent, with key supports turning into resistance levels for ADA. At the time of writing, Cardano had a 24-hour trading volume of $524 million and a market cap of $2.4 billion.

For Cardano’s price, there was a strong resistance level at $0.079 and $0.088. However, if the price were to fall further, it may stabilize around the support level at $0.075.

The Bollinger Bands for ADA were fairly wide, but were slowly contracting at press time – a sign of reduced volatility for the coin’s price in the coming days. The MACD indicator, on the other hand, was inching close to a bullish crossover as the MACD line was converging on the signal line.

In a recent interview, Cardano’s Charles Hoskinson highlighted how the platform is now moving towards focusing and serving as a global financial operating system

Algorand [ALGO]

Source: ALGO/USD, TradingView

Algorand’s price took a major hit over the past week and saw its value drop by over 18 percent, with the same being traded at $0.27. At press time, the cryptocurrency was noting a 24-hour trading volume of $121 million, after having registered a 10 percent dip in just 24 hours. For the coin, there was substantial resistance at two key points – $0.30 and $0.33. However, at the time of writing, ALGO was also testing the support at around $0.27.

The EMA ribbons had settled above the press time trading price and were offering resistance against Algorand’s potential uptrend. The RSI indicated strong bearishness too, as it was well into the oversold zone.

VeChain [VET]

Source: VET/USD, TradingView

In sync with the other two cryptocurrencies, the past week saw VET fall by over 20 percent. This dip brought its trading price down to $0.011, with the crypto having a market cap of $763 million. At press time, the coin was testing the support at $0.011 and if the support does stabilize the coin’s fall, it may soon be headed to its immediate resistance at $0.012.

The EMA ribbons were now offering resistance at the $0.012 – $0.013 price range for VET’s price. The Stochastic indicator signaled bearish sentiments as it was languishing in the oversold zone.



Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,553FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.30
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.71

Most Popular

Cardano, Ontology, Dash Price Analysis: 26 October

The Crypto Fear and Greed Index was noting a reading of 75, at press time, as extremely greedy sentiment gripped the market after...

XDB Foundation Managing Director to Speak at 12th Anniversary Global Family Office Investment Summit in Dubai – DigitalBitsOrg

XDB Foundation Managing Director, Michael Gord, will be participating in a panel discussion at the 12th Anniversary Global Family Office Investment Summit, taking...

GNT to ERC20 migration FAQs

Hello everyone! Thank you...
bitcoin
Bitcoin (BTC) $ 12,995.40
ethereum
Ethereum (ETH) $ 395.39
ripple
XRP (XRP) $ 0.249383
tether
Tether (USDT) $ 0.998332
bitcoin-cash
Bitcoin Cash (BCH) $ 261.10
bitcoin-cash-sv
Bitcoin SV (BSV) $ 173.35
litecoin
Litecoin (LTC) $ 56.25
eos
EOS (EOS) $ 2.64
binancecoin
Binance Coin (BNB) $ 30.63
okb
OKB (OKB) $ 4.69
tezos
Tezos (XTZ) $ 2.09
leo-token
LEO Token (LEO) $ 1.27
cardano
Cardano (ADA) $ 0.101910
monero
Monero (XMR) $ 133.52
stellar
Stellar (XLM) $ 0.081637
chainlink
Chainlink (LINK) $ 11.64
huobi-token
Huobi Token (HT) $ 4.40
tron
TRON (TRX) $ 0.026802
usd-coin
USD Coin (USDC) $ 0.998676
dash
Dash (DASH) $ 70.39
neo
NEO (NEO) $ 17.16
iota
IOTA (MIOTA) $ 0.271682
nem
NEM (XEM) $ 0.100958
zcash
Zcash (ZEC) $ 60.49
maker
Maker (MKR) $ 584.95
paxos-standard
Paxos Standard (PAX) $ 0.998719
ethereum-classic
Ethereum Classic (ETC) $ 5.44
vechain
VeChain (VET) $ 0.011386
true-usd
TrueUSD (TUSD) $ 0.998444
ftx-token
FTX Token (FTT) $ 3.89
kucoin-shares
KuCoin Shares (KCS) $ 0.843293
waves
Waves (WAVES) $ 3.18