[ad_1]
Polkadot (DOT) has followed a descending resistance line since reaching an all-time high price on Feb. 20.
DAO Maker (DAO) has reclaimed the previous all-time high resistance.
Hedera Hashgraph (HBAR) is potentially in the C wave of an A-B-C corrective structure.
Holo (HOT) is increasing at a parabolic rate and has reached the 3.61 external Fib retracement resistance.
Polkadot (DOT)
DOT has been moving downwards since reaching an all-time high price of $42.28 on Feb. 20.
Since then, it has made two unsuccessful breakout attempts and is currently making its third one.
In addition, the line is strengthened by the $39.50 resistance area.
Nevertheless, technical indicators in the daily time-frame are bullish. The MACD has given a bullish reversal signal, and the RSI has crossed above 50.
Therefore, an eventual breakout is expected, though a rejection in the short-term could occur.
If DOT breaks out, the next major resistance area would be at $51.80, found using an external retracement on the most recent drop.
Highlights
DAO Maker (DAO)
DAO has been decreasing since March 22, when it reached an all-time high price of $8.56. Throughout the decrease, it followed a descending resistance line.
On March 31, it broke out from this line and is currently validating it as support. The breakout transpired after DAO bounced at the $6.50 area, validating it as support.
Technical indicators are neutral, failing to confirm the direction of the trend.
The closest resistance area is found at $8.40.
Highlights
Hedera Hashgraph (HBAR)
HBAR has been increasing in a completely parabolic movement for the entirety of 2021. It reached an all-time high price of $0.455 on March 15 but created a long upper wick afterward.
Several days later, it made another attempt at moving upwards but created another long upper wick.
Technical indicators are bearish. The MACD & RSI are decreasing while the Stochastic oscillator has made a bearish cross.
HBAR may be in the C wave of an A-B-C corrective structure. If so, it could decrease all the way to the 0.5 Fib retracement support level at $0.243.
Highlights
Holo (HOT)
HOT has been increasing parabolically since March 16. On March 30, it reached an all-time high price of $0.021 and decreased slightly.
The rejection occurred right at the 3.61 external Fib retracement of the previous drop, a likely resistance area.
While technical indicators have not yet shown any weakness, the parabolic rate of increase is likely unsustainable.
If HOT makes another upward move, it will find the next resistance at $0.236.
Highlights
For BeInCrypto’s latest bitcoin (BTC) analysis, click here.
[ad_2]
