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Ethereum, Cosmos, IOTA price analysis: March 31st

In the past 48 hours, Bitcoin, the world’s largest cryptocurrency, appeared to be on its way to making up for losses incurred in recent weeks. However, at press time, there had been further corrections and BTC fell towards the $ 57,500 mark. Understandably, this had a corresponding impact on the performance of altcoins like Ethereum, Cosmos, and IOTA, with each of them seeing significant depreciation.

ether [ETH]

Source: ETH / USD on TradingView

It’s been a while since the world’s largest altcoin traded with an ATH of over $ 2,000. Valued at just under $ 1,850 at press time, ETH was well on its way to following BTC’s lead on the charts after the popular uptrend stalled a few trading sessions. It should be noted here that the magnitude of the above uptrend was such that the Alt rose over 9% in just 36 hours.

Thanks to this, however, the ETH had made up for all losses after the market-wide devaluation on March 24th and 25th.

Strangely enough, Ethereum’s technical indicators had yet to completely switch to the bearish side Parabolic SARs The last dotted markings were still mostly below the price candles, the Chaikin cash flow approached 0.20.

In addition, recent trading volumes also saw a brief decline.

While the aforementioned corrections were not unexpected, key support levels are likely to push the altcoin’s value north again.

ETH’s performance over the past few months has sparked some speculation that the Alt could soon hit $ 10,500.

cosmos [ATOM]

Source: ATOM / USD on TradingView

Cosmos, the cryptocurrency that ranks 29th on CoinMarketCap’s charts, had a very inconsistent March. The brief price increases were soon followed by sharp falls. Like Ethereum before, Cosmos fell dramatically on the back of an uptrend that suddenly came to a standstill. In fact, ATOM fell nearly 5% in just over 24 hours.

Thanks to this, ATOM was further removed from its local top at the time of going to press.

The growing bear market in the Cosmos market was highlighted by the results of the technical indicators of the crypto. While MACD Line fell below the signal line that Relative Strength Index gradually dipped towards the oversold zone.

The altcoin was in the news recently after announcing the launch of inter-blockchain communication transfers.


Source: IOTA / USD on TradingView

IOTA’s price movement had a lot of similarities to the price movement noted by the likes of Ethereum and Cosmos. Like ETH and ATOM, IOTA corrected due to Bitcoin’s failure to surpass the $ 60,000 level again. It should be noted, however, that while bearish signals were flashing at press time, they were insufficient to indicate that a solid trend reversal had occurred.

The mouth of the Bollinger Bands was still fairly open and forecast some short-term volatility. In addition, it was pointing up, indicating that it is likely to be heading north. On the contrary, that Ingenious oscillator There were red bars on his histogram, a sign of increasing declining momentum.

An earlier analysis of IOTA’s price movements had predicted a consolidation in the charts.

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