- 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.
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.
Also Read:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
