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Ravencoin, IOTA, EOS Price: Sell-offs may hamper path to recovery

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As the cryptocurrency market heals from the market’s inherent volatility to recover some gains, some altcoins are still warding off the bears in the market.


Source: EOS/USD on Trading View

Source: EOS/USD on Trading View

EOS managed to shed 12.08% of its valuation, after the drastic fall on 12 March. The coin has been trying to recover from the fall since, and the volume in the above chart indicated that the buy volume on 13 March was more than the selling volume on 12 March. Hence, it has been on an uptrend since and one might see a rise in bullish momentum since the MACD has completed its bullish crossover.

EOS recently got de-listed from Binance, the world’s largest cryptocurrency platform, after its users were confused about the functioning of the leveraged tokens.

Resistance: $2.371

Support: $1.880

Press time price: $2.23

Market Cap: $2.05 billion

24-hour Trading Volume: $2.6 billion


Source: IOTA/USD on Trading View

Source: IOTA/USD on Trading View

IOTA’s price saw a steep rise in its price, followed by a steep fall too. However, a similar picture has been drawn among various other altcoins too. Now, the downward spiral has finally halted as the buyers are entering the market. Despite drastic falls, IOTA lost only 8.47% of its value in 2020 and according to the Bollinger Bands, the volatility in the market was reducing, but the signal line had dipped under the candlesticks, meaning the trend to be may be a bearish one.

IOTA was in the news recently after the Foundation, to fight Coronavirus, collaborated with open-source Eclipse Foundation. The project is called Tangle EE.

Resistance: $0.1498

Support: $1057

Press time price: $0.1446

Market Cap: $402.09 million

24-hour Trading Volume: $10.2 million

Ravencoin [RVN]

Source: RVN/USD on Trading View

Source: RVN/USD on Trading View

Ravencoin’s price shot up at the beginning of the year, peaking at $0.0425. However, the coin has been falling since mid-February and slumped even more on 12 March. This downtrend continued till 28 March, after which it recorded strong green candles, indicating growth. The coin had recorded a total loss of 34.04% in 2020, but does manage to create interest among traders.

According to the Relative Strength Index indicator, the buying pressure has been increasing in the market as the signal line moved above 40.

Resistance: $0.01612

Support: $0.01265

Press time price: $0.0149

Market Cap: $87.47 million

24-hour Trading Volume: $6.85 million


Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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