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EOS, BAT, MonaCoin: Alt-season seems unlikely in the near future

Rakshitha Narasimhan

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EOS, BAT, MonaCoin: Alt-season seems unlikely in the near future
Source: Unsplash

The onset of COVID-19 has upturned all the narratives regarding an alt season.

EOS

Source: EOS/USD, TradingView

EOS, one among the top 10 coins, witnessed a 66% drop at the start of March. Although the coin has been trying to rise, it is constantly facing rejection at $2.43.  The symmetric triangle formation indicates an upward breakout. The CMF indicator also confirms this probability.

Resistance: $2.4, $3.15, $3.84
Support: $1.77

At press time:

Price: $2.2
Market Cap: $1,988,914,489
24- hour Trading Volume: $1,956,370,216

Basic Attention Token [BAT]

Source: BAT/USD, TradingView

The 34th largest digital asset BAT [as per CoinMarketCap], has also been on a downward run since March 7, which continued on March 12 pushing the price further down by 51%. The coin has been maintaining the support at $0.128 at the moment. A closer look at the chart reveals that the widening Bollinger Bands are starting to contract which indicates that there might be lower volatility in the coming days.

Resistance: $0.20. $0.22
Support: $0.12, $0.10

At press time:

Price: $0.13
Market Cap: $193,693,737
24-hour Trading Volume: $68,879,191

MonaCoin

Source: MONA/USD, TradingView

The coin’s price which started a downward trend on Feb 19, has not been able to rise back up. The coin that fell by 51% on March 12 has maintained the support at $1.1 since March 19. The price fluctuations form an ascending triangle pattern which indicates an upward breakout, and this is further confirmed by the Awesome Oscillator indicator.

Resistance: $1.5, $1.7, $2.17, $2.72
Support: $1.1, $0.9

At press time:

Price: $1.15
Market Cap: $75,230,562
24-hour Trading Volume: $3,316,323

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A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.

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