Fascinating contradictions were observed as the market projected a classic bull-bear tug-of-war.
Cardano has not done well and continues its bearish trend with slight chances of a bullish revival. On the flip side, Tron and DASH have steadily traversed an upward channel and maintained their respective trend lines.
Cardano (ADA)
Sources: TradingView, ADA / USDT
ADA itself has seen a steady retreat since the beginning of September. The crypto saw a 41.34% decline from September 2 to hitting its 11-week low on October 27. The bulls then started an uptrend and hit their one-month high on November 9th.
However, the bulls were unable to maintain their advantage as the price fell and collapsed in its long-term trend. The sell-off led to a price decline of 28.68% from November 9th to 23rd. As a result, the price hit its 15-week low on November 24th.
At the time of publication, ADA was trading at $ 1.1677. the RSI chose sellers by hovering near the 40s mark. However, it showed slight signs of recovery over the past day. Even though DMI preferred the bearish force that MACD indicated a bullish rally. For a comeback, the bulls need to gain momentum with increased trading volumes.
Tron (TRX)
Source: TradingView, TRX / USDT
TRX was on the opposite spectrum from ADA. While ADA steadily declined, TRX swayed between the parallel channels to the north. It has been on the rise since September 29, reporting a 47-day ROI of over 54%. As a result, the rally triggered the price to hit its six-month high on November 15th.
However, the bears refuted it by showing resistance on the upper canal. As a result, price moved back into trend after seeing an 11.1% decline for seven days and trading at $ 0.09968. After countering the upward momentum, the bears broke the $ 1.0335 level (immediate resistance).
The short-term technical data showed bullish signs of recovery after favoring the bears. the RSI rose towards the centerline after jumping 10 points in 24 hours. This jump indicated the increasing buying momentum. Also the MACD and TO THE a resuscitation option represented by flashing green signs and in resonance with the RSI jump.
HYPHEN
Source: TradingView, DASH / USDT
Like TRX, DASH showed an upward trend from the end of September. The DASH price action has been bullish since September 29, when price bounced north between the two parallel lines. The digital currency posted a monstrous ROI of 64.4% from September 29th to November 10th. As a result, DASH hit its two-month high on November 10th and rebounded between the parallel lines following the trend.
Then the altcoin took a sharp dip over the next week as it hit a drop of 30.31 and hit its six-week low on November 18.
However, the altcoin posted a 9.2% weekly gain as short-term technicals suggest increasing upward momentum. At press time, DASH was trading at $ 208.6. the RSI was facing north and visibly favored the bullish side. Also the MACD and TO THE a resuscitation option represented by flashing green signs.
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