Altcoins Recover At The Bottom Of The Chart

The best-performing altcoins are moving from the bottom to the top of the chart.

The recovery of cryptocurrencies has been hindered by the barriers of moving average lines. Since HBAR and CRO have risen but are between the moving average lines, the price is moving in a range.

Cardano

Cardano (ADA) is in a sideways trend, although it has fallen below the moving average lines. ADA fell to $0.84 and hovered above the 50-day SMA. A further decline to the lows of $0.65 and $0.55 will be signaled by a break below the moving average lines. Cardano will rise and regain the high at $1.20. 

Meanwhile, the bears are trying to break below the 50-day SMA. The coin that is performing the best is ADA.

The current price: $0.8226

Market capitalization: $28,976,952,539.3

Trading volume:  $3,427,847,475.95

7-day gain: 42.38%

Bitcoin Cash

Bitcoin Cash (BCH) has recently recovered from a low of $271 after falling below the moving average lines. The price indicator predicts a decline but is rising again at the Fibonacci extension of $1,272 or $324.29.Although BCH has corrected upwards today, the moving average lines have held it back. The price is moving above the $300 support but below the moving average lines. 

On a positive note, BCH will resume a positive trend if buyers keep the price above the moving average lines. The altcoin will rally to the high of $500.80. The bullish momentum will eventually reach the high of $624. The cryptocurrency with the second best performance is BCH.

The current price: $379.26

Market Capitalization: $7,524,414,661.52

Trading Volume:  $569,245,506.77

7–day Gain: 35.63%

Hedera

The trend for Hedera (HBAR) is sideways. The digital asset was rejected twice at the $0.40 resistance level. HBAR corrected upwards after falling above the low of $0.18. The moving average lines have completed the upward correction. The price of cryptocurrencies has been stuck since March 1. 

On the upside, the altcoin will hit a high of $0.40 if the bulls break the 50-day SMA. However, HBAR will fall to the low of $0.20 if the bears break the 21-day SMA. The third best performing coin is HBAR.

The current price: $0.2332

Market capitalization: $9,849,132,879.89

Trading volume:  $737,297,588.75

7-day gain: 29.95%

XRP

XRP (XRP) has fallen below the moving average lines, although it is still in a sideways trend. Since the price dip on February 3, XRP has been moving between the support at $2.00 and below the high at $3.00.The altcoin is bearish in the lower price area. The selling pressure will end above the $2.00 support. The altcoin will rise once it stays above the $2.00 support. XRP will drop to as low as $1.76 if it falls below the $2.00 support.

The current price: $2.34

Market Capitalization: $136,250,930,265.87

Trading Volume: $7,852,360,253.85

7–day Gain: 21.84%

Cronos

The price of Cronos (CRO) has fallen sharply to the lower part of the chart. The cryptocurrency dropped as low as $0.068 before rebounding. The 50-day SMA stopped the price of the cryptocurrency when it broke above the moving average lines. CRO is located between the moving average lines at the bottom of the chart. The cryptocurrency will rise above the 50-day SMA once again. It will rise to the next resistance at $0.14. The market has entered oversold territory, which is a disadvantage.

Of all cryptocurrencies, CRO is in fifth place.

The current price: $0.08252

Market Capitalization: $2,192,937,138.26

Trading Volume: $55,226,703.24

7–day Gain: 20.76%

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.