Cardano appeared to be trading the $ 1.27 – $ 1.16 channel and the next big swing could propel it towards the $ 1.31 resistance. If Neo maintains its support at $ 42.84, the price could rise in the next few sessions. Eventually VeChain was trading close to record levels, but its indicators pointed to a short-term downward move.
Cardano [ADA]
Source: ADA / USD, TradingView
March was a mixed match for the fifth largest cryptocurrency in the world – Cardano. In the first few days of the month, ADA continued its record decline, falling to the $ 1 mark. A pickup from that point on allowed ADA to release a fresher ATH, but selling pressure was quick to drive the price south again. At the time of writing, the price was in recovery mode as it hovered between $ 1.27 and $ 1.16, waiting for the next big swing.
The ADX was shown north of 28 and showed that the bulls were gaining strength in the market. The RSI shared a similar sentiment as it traded up from near the 60 mark. The next level for the bulls in the market could be around the $ 1.31 resistance.
Neo [NEO]
Source: NEO / USD, TradingView
As Neo retook $ 42.84 and flipped to support, gains were capped at the upper cap of $ 46.28. The OBV was limited at press time, a sign that buying pressure has escaped the market. A decline in the 24-hour trading volume also had a positive effect on an optimistic result. The MACD joined a bearish crossover while the histogram noted a slowdown in dynamics.
With the indicators taking a bearish position, the focus would be on support at $ 42.84 for the next few sessions. If the bulls maintain this level, a breakout north would be possible in the short to medium term.
VeChain [VET]
Source: VET / USD, TradingView
At the time of writing, VeChain was trading in the midst of its immediate support and resistance and only 10% from its most recent ATH. The consolidation phase of the print time would likely lead to higher levels in the long term. However, the indicators noted a certain downward movement in the market. The signal line crossed over that MACD Line, while the histogram registered a series of red bars below the half-mark.
While it is unlikely to break below the current channel, it could add additional losses towards the USD 0.076 support.
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