ADA coin price is under tremendous buying pressure and hints at double bottom breakout. Will the increased trend momentum reach $2? Founded by Charles Hoskinson, one of the co-founders of Ethereum, CEO of IOHK, Cardano is one of the largest blockchains to successfully use a proof-of-stake consensus mechanism. The new consensus consumes less power than the proof-of-work algorithm on which Bitcoin is based.  On September 12, Cardano released its highly anticipated Alonzo update. After the update, the network now supports a wide array of crypto applications, including non-fungible tokens (NFTs) and smart contracts. Let us look at what the Cardano technical analysis reveals: Past Performance of ADA The ADA coin price action shows a V-shaped recovery in the daily chart with a 30% price jump following the downfall to $1.125. The coin price shows a rise of almost 10% in the past 24 hours, with a 130% rise in intraday trading volume. This indicates a boom in the underlying buying pressure. The price approaches the crucial resistance level of $1.5 that may soon generate a breakout entry opportunity. ADA/USD Daily Chart ADA Technical Analysis The V-shaped in the ADA coin price completes a double bottom pattern in the daily chart. The neckline of the patterns coincides with the resistance level at $1.5. Therefore, the breakout of the pattern will give an excellent buying spot.  Crucial EMAs (50, 100, and 200) trend lower in a bearish alignment in the daily chart. The price breaks above the 50-day EMA and continues to reach the 200-day EMA.  The RSI indicator at 59% shows a sharp increase in the slope resulting in the central line (50%) breakout in the daily chart. Therefore, the indicator reflects a boom in the underlying bullish momentum. The MACD indicator shows a sudden rise in the MACD line driving the line further away from the signal line after the bullish crossover. Moreover, the solid growth in bullish histograms suggests increased buying pressure. Therefore, the rising buying pressure is evident by the technical indicators, increasing the chances of a bullish breakout of $1.5.  Upcoming Trend The double bottom pattern made by the ADA coin price action can shortly give a bullish breakout of the neckline at $1.5. Therefore, traders can expect the breakout to reach the $2 mark by the end of January.  The price action suggests upcoming resistance levels at $2 and $2.30 following the level at $1.5. And, in case of a bearish reversal, the price can find support at $1.125  and $1. At press time, the sentiment chart gives a strong “BUY” signal for the ADA token.

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If Bitcoin breaks above $45,500, select altcoins like NEAR, ATOM, FTM and FTT could turn bullish in the short-term.

The Ethereum (ETH) price chart shows strong buying pressure from this bottom support level, preparing for a bullish reversal. The price action shows the formation of a cup and handle pattern that could initiate a recovery rally. Ethereum ETH) price lost around 38% when it made a new low of $3300 from its all time

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Overall trend for Syscoin price is strongly bullish right now. SYS provides occasional pullbacks and keeps climbing higher levels. After its recent correction rally to the $0.85 support, the coin aims to rechallenge the $1.32 resistance, hoping to continue this uptrend. Key technical points:  The 20 and 50 EMA line provides strong support to the

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Solana’s price remains higher and oscillates in a trading range. The digital currency faces upside pressure near $157.87. However, sellers failed to capitalize on the downside trend. The current market cap is $46,634,116,790 USD in the past 24-hours. Solana (SOL) gains remain consolidated in a tight range. SOL bulls are not ready to give up

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XRP has lost almost 17% since January 2 from the highs of $0.8659. The price gains more than 1% on Saturday from the lows of $0.7680. At the time of writing, the XRP price has been hovering near higher levels. XRP extends the previous session’s gains today with more than 1% gains. The Altcoin rises

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During the last two months of 2021, the $500 mark was critical support for BNB coin bulls. However, entering 2022, the bear overpowered this coin and extended the correction rally below $500. Obtaining strong support from the $400 mark, the BNB price is rallying back to the $500 level, but this time as potential resistance.

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STX coin price action forms a consolidation range between the 100 and 50-day EMAs. Will the recovery help in the bullish breakout? Stacks is a layer-1 blockchain technology that is designed to enable smart contracts as well as Decentralized Applications (DApps) to Bitcoin (BTC). These smart contracts are added to Bitcoin without altering any of the characteristics that make Bitcoin so effective such as its security and stability. It is powered by Stacks token (STX) that is used to fuel an execution process for smart contracts processing transactions, and also for creating new digital assets to the Stacks 2.0 blockchain. Let us move ahead to read about Stacks technical analysis. Past Performance of STX The STX coin price action shows a growth of 10% in the past week despite the bloodbath in the crypto market. However, the growth comes after a 20% fall from $2.40 to $1.85. The coin price shows a sideways movement for the past few days, but the presence of lower price rejection is clearly visible. That is why a stronger bullish side is seen. STX/USD Daily Chart STX Technical Analysis The STX coin price hints at a morning star pattern formation in the daily chart with substantially lower price rejection. Therefore, the possibility of a price jump by the day’s end is increasing.  Crucial EMAs (50, 100, and 200) maintain a sideways trend in a bullish alignment in the daily chart. Moreover, the range formation between the 100 and 50-days EMA will shortly provide a breakout entry opportunity. The RSI indicator at 48% indicates the slope struggling to surpass the central mark in the daily chart. Moreover, the slope struggles to surpass the 14-day SMA as well. The MACD indicator shows the bearish histograms maintain a trend in the daily chart. However, the slight reversal in the fast line increases the chances of a bullish crossover. Therefore, the technical analysis shows the bullish powers struggling to take back the trend control.   Upcoming Trend The sideways momentum in the STX coin price maintains a consolidation range in motion. However, the lower price rejection indicates a high possibility of a bullish breakout. The price action suggests upcoming resistance levels at $2.40 and $2.60 above the 50-day EMA. And, the support levels are at $1.85 and $1.65, below the 100-day EMA. At press time, the sentiments chart remains “NEUTRAL” on the STX coin.

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MKR coin price shows a sudden jump but struggles to rise above a high selling pressure near $2200. Will the bulls overcome the selling pressure? Maker (MKR) is the governance token of MakerDAO as well as the Maker Protocol. The decentralized autonomous organization and the software platform both are built upon Ethereum. Ethereum blockchain permits users to manage and issue the stablecoin of DAI. The Maker tokens are the equivalent of a voting share for the company that runs DAI and, while they don’t provide dividends to their owners. However, they grant the holders the right to vote in the advancement of the Maker Protocol and will increase in value according to the performance of DAI itself. Let us move ahead to read about Maker technical analysis. Past Performance of MKR The MKR coin price action shows lower price rejection near the horizontal level, slightly below $2000 at $1975. The lower price rejection drives the price close to $2200. However, the short-coming resistance trendline and the $2200 resistance level halt the increasing prices, teasing a reversal shortly. MKR/USD Daily Chart MKR Technical Analysis The MKR coin price consolidates between $2000 and $2200 in the daily chart while the price rests near the resistance after the price jump of 10%. Therefore, the recent jump indicates a high possibility of a range breakout.  Crucial EMAs (50, 100, and 200) trend lower in a bearish alignment that may halt the post-breakout bull run. Therefore, traders need to keep an eye on the prices once they reach near the 50-day EMA. The RSI indicator at 44% shows a gradual rise in the slope with a higher high formation in the daily chart. Moreover, the recent bullish crossover with the 14-day SMA reflects a rise in buying pressure. The MACD indicator shows the MACD and signal lines merge in the daily chart, indicating a high possibility of a bullish crossover. Moreover, the rise of bullish histograms reflects a jump in underlying bullishness. Therefore, the technical analysis shows a rise in bullishness teasing a breakout of the consolidation range.  Upcoming Trend The rising bullish powers within the consolidation range hints at a jump above the selling pressure at $2200 and the resistance trendline. However, price action confirmation is a must for safe traders. The price action suggests upcoming resistance levels at $250 and $300 ahead of the consolidation range. And, in case of a bearish reversal, the price can find support at $2000 and $1750. At press time, the sentiments chart gives a “SELL” signal for the Maker token.

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MATIC coin price struggles to overcome selling pressure of $2.45 despite constant support from rising EMAs. Will the bears overtake trend control? Polygon utilizes a modified variant of the Plasma framework, which is based around proof-of-stake checkpoints as a part of the Ethereum mainchain. This innovative technology lets each sidechain on Polygon process as high as 65,536 transactions per block. Polygon currently has support for only the Ethereum sidechain. The network plans to expand support for other base chains in response to suggestions from the community and consensus. This will make polygon an interoperable and decentralized layer 2 blockchain platform. Let us move ahead to read about Polygon technical analysis. Past Performance of MATIC The MATIC coin price action reflects a rise of 20% in the last five days after finding demand near the support trendline in action. However, the price struggles to rise above the resistance zone at $2.45 in the daily chart. It is evident by the recent bearish candle and a higher price rejection in the present daily candle. MATIC/USD Daily Chart MATIC Technical Analysis The MATIC coin price action finds support, after a 30% fall, near the high confluence support area near $2, 100-days EMA, and the support trendline. However, the push from the high-demand zone struggles to overcome the selling pressure at $2.45.  Crucial EMAs (50, 100, and 200) rise higher in a bullish alignment helping maintain a bull run in action. It is evident by the constant dynamic support of 50 and 100-day EMAs. The RSI indicator at 65% shows a sideways movement as the slope flattens slightly above the central mark in the daily chart. However, the 14-days SMA falls below the central mark, giving a bearish warning. The MACD indicator shows a spark in the fast line as it rises to give a bullish crossover, but it flattens as it approaches the signal line. Nonetheless, the falling distribution of the bearish histogram reflects a solid bullish revolt. Therefore, the MATIC technical analysis reflects high selling pressure at $2.45, but the gradual growth in the underlying bullishness might soon overcome it.  Upcoming Trend The constant support from the crucial EMAs to the MATIC coin price indicates a solid underlying bullishness. Therefore, the chances of bullish reversal rising above the zone at $2.45 are high. Thus, traders can find an excellent breakout entry opportunity shortly. The price action suggests high supply areas at $2.70 and $3 can post-breakout bull run. And, in case of a bearish trend, the price can find support at $2.15 and the 50-day EMA. At the time of writing, the sentiments chart gives a “BUY” signal for the Polygon token.

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DCR coin price action gives a bullish breakout of the falling wedge pattern with a 1500+% jump in trading volume teasing a bull run above $100 shortly. Decred is a cryptocurrency based on blockchain that was introduced in February 2016. DCR token and the protocol behind it were created to promote an open and democratic governance system. It is designed so that the community has the authority to approve any changes or transactions made to the protocol. Therefore, there is no way for the large Decred holders to influence the functioning of the system. The driving force for the founding of Decred is that it is an organization known as Company 0. Its purpose is to harness blockchain technology to provide better security for personal data and allow organizations to be more flexible in their projects. Let us move ahead to read about Decred technical analysis. Past Performance of DCR DCR coin price shows a growth of more than 25% in the past 24 hours with a jump of 1650% in the intraday trading volume. Thus, resulting in a huge bullish engulfing candlestick in the daily chart. Moreover, the increasing prices result in the long-coming wedge pattern breakout.  DCR/USD Daily Chart DCR Technical Analysis The DCR coin price finds demand near the support zone at $60 resulting in the price jump and the breakout of a long-coming resistance trendline. However, the resistance zone of $100 is a high selling pressure area that can be hard to overcome. The crucial EMAs (50, 100, and 200) maintain a falling trend with the 50-day EMA providing dynamic resistance resulting in the higher price rejection. However, the increasing demand may soon result in the breakout of these EMAs, which will light a buying spot. The RSI indicator at 55% shows a steep rise in slope as it breaks above the center mark in the daily chart. However, the 14-day SMA remains below the central mark, indicating the bullish pressure is yet to sustain. The MACD indicator shows a bullish crossover in the MACD and signal lines with the gap increasing between the lines. Moreover, the growth in bullish histograms reflects a rise in underlying bullishness.  Therefore, the technical analysis indicates a sharp rise in bullishness which is yet to sustain and might find rejection near $100. Moreover, the DCR price action indicates high price rejection from the 100-day EMA near $100. Upcoming Trend The breakout of the falling wedge pattern with a boom in buying pressure helps DCR gain overnight bullish attention. However, the price struggles to sustain above the breakout and might succumb within the pattern.  The price action suggests support levels at $60 and $30 can halt the falling price in the event of a downfall. However, if the buying pressure sustains, the selling pressure at $100 and the 200-day EMA will be hard to overcome. In conclusion, the chances of prices falling into a pattern is high compared to a bull run. However, traders need to be patient and wait for the price action confirmation. At press time, the sentiment chart gives an overall “BUY” signal for the Decred token.

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Litecoin (LTC) keeps up the pace from the lows of $120 made on January 10. The US Dollar Index (DXY stays pressured below the 95.0 mark. As per the estimates, Litecoin could come up in the top ten of the world’s most valuable digital currency by market capitalization in the next few years. Litecoin(LTC) rallied

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