- Bears dominate Radix (XRD) market in the last24-hours.
- The bullish sentiment expected to continue in the short run.
- XRD price meets resistance at $0.04189, with support coming in at $0.04087.
In the earlier part of today’s trading session, buyers in the Redix (XRD) market controlled the market. Consequently, as a result of this, they established a resistance level at 0.04204; however, this price rise was ultimately controlled by the bears as they exerted pressure on the XRD price, which led to them dominating the market and consequently establishing a bearish sentiment regarding the prices in the XRD market.
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At the time that this article was written, the price of XRD had dropped by 1.10%, bringing it down to $0.04148. The bearish sentiment was also strengthened by the decrease in MarketCap by 1.14% to $417,451,783, while the trading volume saw a downward decrease of 58.83% to $841,524 in the last 24-hours. This brought the total to $417,451,783.
The Bollinger Bands are bulging, as evidenced by the upper band touching at 0.045654 and the lower band touching at 0.030023; consequently, this forecasts that the current bearish control over the XRD market might continue as the price oscillates toward the lower band.
Since the MACD line is higher than the signal line, this suggests that bears are still making efforts to correct the market in order to establish their movement on the market, which is good news for investors since it raises the possibility that a bullish sentiment may soon be established.
Given that the Stochastic RSI is currently at 78.12 and pointing downward, it’s possible that the bearish trend will persist, as the indicator is approaching the oversold zone. Investors could perhaps heed this warning as this declining trend may persist for the foreseeable future.
As shown in the price chart for XRD, the occurrence of a “bearish crossing, which occurs when a shorter-term moving average crosses below a longer-term moving average, provides evidence of a continuing downward momentum. In terms of moving averages, the 50-day MA is 0.045847, while the 100-day MA is 0.052029. Furthermore, both of the Moving Averages are currently positioned higher than the market, which is a bearish indicator.
Radix (XRD) prices have decreased by 1.10% as a direct result of the bears’ dominance of the market. The bears have been successful in their efforts because the market is currently in their hands.
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