23 March 2022 | ZebPay OTC Trade-Desk
Over the last 24 hours, the market has been relatively range-bound. Although volumes have seen some consolidation in recent hours, activity across assets has not been encouraging. BTC is the dominant cryptocurrency at 41.6% and ETH at 18.6%. The market’s total market capitalization is just shy of $2T, hovering at $1.9T. Bitcoin and major altcoins are trying to maintain above their immediate support levels, which could signal a change in the short term trend.
24 Hour Change (%)AssetPriceVolumeMarket CapitalizationEOS2%-0.98%1.91%UNI-1.28%-36.67%-1.46%BCH-1.29%5.06%-1.35%ADA3.27%18.06%3%
After trading in a downtrend, EOS has created an ‘Inverted Hammer’ Candle on a weekly basis. The prices rose almost 38% to $2.57 after this. The asset has held strong resistance between $2.75 and $2.95. After crossing this resistance with high volumes, it could rally further up to $3.5 to 4.UNI. The asset has been moving in an upward trend after having taken multiple support levels at $7.5. The asset broke above the descending sloped line and surged to $10.17. The prices are currently consolidating above and beyond the 20-Day Moving Average. We remain bullish until the price holds above $8.51 and the 20 Day Moving Average. Only if UNI trades and closes at $11.5, can it rally further. After forming a ‘Rounding Bottom” pattern, ADA has begun moving up. The asset trades in green and has risen almost 20% in the past three days. ADA may face resistance at $1.1, but if bulls can beat this level with high volumes, then the asset can rally further to the $1.25 mark.
EOS Technical Chart (Weekly chart).
UNI Technical Chart (Daily chart)
The Key News:
The Thailand Securities and Exchange Commission announced that cryptocurrencies are prohibited from being used for payment. According to reports, El Salvador’s government has delayed issuing a Bitcoin (BTC-backed) bond because of the adverse market conditions that have been fueled by the crisis.
Sources of charts: http://cryptowat.ch
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation or investment goals of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, correctness or completeness of the information, opinions or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in response to new events or circumstances after the date of the report was made. Trading and Investments in cryptocurrencies viz. Bitcoin Cash, Ethereum, and other cryptocurrencies are highly speculative investments that are subject to market risk. The Author’s analysis should be used only as information and should not serve as investment advice.
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