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Analysis

Nano, HedgeTrade, Bitcoin: Technical indices for coins hint at further gains

Chayanika Deka

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Source: Pixabay

Despite several pullbacks along the away Bitcoin and its peer altcoins have maintained a steady upward momentum. As the collective market cap stood at $192 million, the cryptocurrencies have been eyeing for higher gains.

Bitcoin:

On March 12th, Bitcoin suffered the largest drop since 2013; however, the following day saw intense trading on the spot market with retail investors flocking towards it. Despite the recovery, it has been struggling to get past the psychological level of $7,000. The coin has been trapped between the range of $6,500 and $7,000.

At press time, BTC stood at a value of $6,793 as it held a market cap of $124.3 billion. It was up by a minor 0.98% which prompted its trading volume to climb $32.60 over the past 24-hours.

Source: BTC/USD on TradingView

Resistance: $7,734, $8,599

Support: $4,855

MACD: The MACD hovering above the signal line depicted a bullish phase for the king coin.

CMF: CMF indicator was also in bullish territory indicating capital inflow into the BTC market.

Nano:

Closely following Bitcoin’s price movement, NANO sustained a massive fall right after the crash. However, following the recovery, the 54th largest cryptocurrency has also maintained an upward trajectory.

At press time, NANO was priced at $0.598 which was driven by a surge of 6.27% over the last 24-hours. Additionally, NANO held a market cap of $79.75 million and a 24-hour trading volume of $12.37 million.

Source: NANO/USD on TradingView

Resistance: $0.828, $1.129

Support: $0.36

Parabolic SAR: The dotted markers below the NANO price candles depicted a bullish trend for the coin.

Awesome Oscillator: The green closing bars also depicted a bullish momentum for NANO in the near-term.

HedgeTrade

HEDG has steadily climbed up to an all-time high of $2.8 level, however, it has, since then, failed to post any new highs. However, its technical indices have been strong.

At press time, HEDG token was priced at $1.73 after a minor surge of 1.004% over the last 24-hours. Additionally, it registered a market cap of $498.7 million and a 24-hour trading volume of $557.9k.

Source: HEDG/USD on TradingView

Resistance: $2.47, $2.86

Support: $1.06, $0.58

Klinger Oscillator: KO exhibited a bullish signal.

RSI: RSI appeared heading towards the neutral zone of 50-median suggesting an optimistic sentiment among the investors in the HEDG market.

Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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