The crypto currency market is forced to achieve a new rise acceleration. Bitcoin price fluctuates in a narrow range, while the Altcoin market has a mixed appearance. Investors and traders pay attention to some subcoins while trying to make profitable transactions. Crypto analyst Abody Oladokun examines the technical painting of 3 tokens in the market.
Crypto Money in the first row: Lisk (LSK)
Layer-2 Token LSS is one of today’s trend subcoins. Token is currently traded for $ 0.57 and recorded a 1 %increase in the last 24 hours. Last week, LSK’s price increased by 6 %. However, in the same period, Token’s Chaikin Money Flow (CMF) decreased and created a ‘bear deviation’. During the article, this momentum indicator is below zero with -0.28.
The CMF of an asset follows how the money is in and out of that being. When it falls during a price rally, a downward deviation occurs. This trend shows that the crypto currency price rally lacks strong support and that the procurement pressure weakens despite the price increase. If the trend persists, it may trigger the reversal of prices or a correction as the momentum decreases. In this case, LSK may lose its earnings and drop to $ 0.0000063.
LSS Price Analysis. Source: TradingViewCronos (Cro) is in the second place
Cro is a crypto currency with trend today. Crypto.com fired the discussions in the community after suggesting to reproduce the 70 billion Cro token. Token experienced a 10 %price decrease last day. In the daily graph, CRO’s falling power balance (BOP) confirms the weak demand between market participants. During the article, the momentum indicator following the purchase and sale pressure points to the decrease trend with -0.95.
Cro’s negative BOP shows that sales pressure is more powerful than the purchase pressure, and the decline in the market is dominant. This means that Coin sellers control the price movement and potentially leads to a further decline. If the decline tendency continues, the price of CRO may drop to $ 0.06.
Cro Price Analysis. Source: TradingViewLast row Crypto Money: Dymension (DYM)
DYM increased by 40 %in the last 24 hours. In the same period, the transaction volume increased by 338 %and reached $ 162 million. When the price and transaction volume of an asset rises at the same time, this indicates a strong purchase pressure and market interest. The high trading volume of the DYM reduces the likelihood of a wrong break by confirming that the price increase is supported by significant participation. This trend is a bull signal and indicates that the acceleration will continue if the demand remains strong. In this case, the price of Altcoin can climb to $ 0.66.
DYM Price Analysis. Source: TradingViewThe opinions and estimates in the article belong to the analyst and are not definitely investment advice. Kriptokoin.comWe recommend that you do your own research before investing.
