Cardano, EOS, Dash Price Analysis: 10 August

Cardano, EOS, and Dash, all seemed to be consolidating/range-bound, with their prices waiting to break out on the charts, at the time of writing. However, in the short-term time frame, all the aforementioned cryptos seemed to be expecting a short decline in the near-term.

Cardano [ADA]

Source: ADAUSD TradingView

Cardano [ADA] no longer holds the eighth position on CoinMarketCap’s charts, with its position taken over by Litecoin [LTC]. At press time, ADA had a market cap of $3.7 billion, having registered a 2.15% decline over the last 24 hours. With Cardano’s PoS blocks being added to the mainnet, it intends to compete with Ethereum, another smart contracts platform in the space.

As for the price, ADA seemed to be range-bound between $0.122 to $0.156 for the last 15 days. And the same will continue as the price has freshly rebounded off its higher low on the chart.

Further, the RSI pointed to declining momentum for buyers in the market, a development that gelled well with Cardano’s press time price action. Hence, the next targets for ADA include $0.128 and $0.122.

EOS

Source: EOSUSD TradingView

EOS was supposed to be yet another contender for Ethereum. However, it has now dropped down to as low as 12th on the rankings and at press time, held a market cap of $2.89 billion. With a price of $3.048, WBTC was registering a 1.48% surge over the last 24 hours. Due to the formation of a symmetrical triangle, the breakout could go either way. However, considering the prior trend, this seems like a continuation pattern. Hence, the result might be bullish.

Further, the MACD indicator was intertwined with the Signal line, with the latter rising slightly above the MACD line following a bearish crossover.

DASH

Source: DASHUSD TradingView

Not only has this privacy coin partnered with a Mexican cryptocurrency exchange and launched a crypto-debit card of its own, but its price has seen a 56% surge over the last 17 days. At press time, Dash was priced at $95.82 and had a market cap of $945 million, making it the 23rd largest cryptocurrency in the market.

Additionally, the price was showing a stark uptrend with a broadening wedge. The Aroon indicator showed the downtrend [red] was in full swing while the uptrend [green] was diminishing. The near-term target for the price is $91.83.