{"id":16164,"date":"2022-05-08T12:41:38","date_gmt":"2022-05-08T12:41:38","guid":{"rendered":"http:\/\/egrowonline.com\/?p=16164"},"modified":"2022-05-08T12:41:38","modified_gmt":"2022-05-08T12:41:38","slug":"cardano-tron-near-price-analysis-08-may","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=16164","title":{"rendered":"Cardano, Tron, NEAR Price Analysis: 08 May"},"content":{"rendered":"


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As the broader market crumbled all the way down to the $1.6T-mark at press time, the long-term HODLers have been trying to stall the boosted sell-off situation. Consequently, Cardano and NEAR fell below their 20\/50\/200 EMA while poking their multi-month lows on 8 May.<\/span><\/p>\n

On the other hand, Tron\u2019s 4-hour RSI, unlike its peer alts, swayed above the midline as the alt entered into a low volatility phase.<\/span><\/p>\n

Cardano (ADA)<\/span><\/strong><\/h4>\n
\"\"<\/a><\/p>\n

Source: TradingView, ADA\/USDT<\/p>\n<\/div>\n

After the bears found renewed selling pressure at the $1.1-$1.2 resistance range, ADA restored its slump phase and dropped below its 4-hour\u00a0<\/span>20\/50\/200 EMA<\/span><\/strong>. Meanwhile, this descent chalked out a 41.07% retracement over the last 33 days.<\/span><\/p>\n

The 5 May sell-off spurred a series of bearish engulfing candlesticks that pulled ADA down to its 15-month low on 8 May. While the sellers assumed immediate control of the trend, the bulls needed to scale up their efforts to soar the trading volumes.<\/span><\/p>\n

At press time, ADA traded at $0.7454. The <\/span>RSI\u00a0<\/span><\/strong>has been on a steep downtrend over the last three days. Its week-long troughs revealed a bullish divergence with price. Thus, a revival from its current levels was plausible in the coming times. But with the\u00a0<\/span>CMF\u00a0<\/span><\/strong>diving below the zero-mark, the buyers had to up their game substantially to alter the current bearish outlook.<\/span><\/p>\n

Tron (TRX)<\/span><\/strong><\/h4>\n
\"\"<\/a><\/p>\n

Source: TradingView, TRX\/USDT<\/p>\n<\/div>\n

After lifting off from the $0.06-support, TRX made impressive progress on its chart. Higher lows alongside enduring highs beyond the 38.2% and 50% Fibonacci level fetched well-needed gains for the alt.\u00a0<\/span><\/p>\n

Then, as the price approached its multi-week trendline resistance (yellow, dashed), the alt quickly turned its back on it while breaking down from the up-channel. With the 61.8% level standing sturdy, TRX faced difficulties in prolonging its upswing. Now, as the price dropped from the upper band of the\u00a0<\/span>Bollinger Bands<\/span><\/strong>, the alt lost its basis line (green) support as the sellers reclaim their edge.<\/span><\/p>\n

Near Protocol (NEAR)<\/span><\/strong>
<\/span><\/strong><\/h4>\n
\"\"<\/a><\/p>\n

Source: Tradingview, NEAR\/USDT<\/p>\n<\/div>\n

As the ongoing narrative for NEAR visibly skewed in favor of bears, the sellers found fresher grounds to rest on over the last few weeks.<\/span><\/p>\n

With the bears keeping a regular check on the alt\u2019s peaks and lows, NEAR lost nearly half its value from its multi-week April highs. With the\u00a0<\/span>20 EMA<\/span><\/strong> continuing its southbound trajectory, NEAR found it tough to uphold the vital\u00a0<\/span>Point of Control<\/span><\/strong>\u00a0(red).<\/span><\/p>\n

At press time, NEAR was trading at $10.247. Echoing with other alts, NEAR\u2019s <\/span>RSI\u00a0<\/span><\/strong>saw slight improvements after drifting in the oversold region. From hereon, a close above the 35-mark would expose the alt to a stronger comeback. <\/span><\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As the broader market crumbled all the way down to the $1.6T-mark at press time, the long-term HODLers have been trying to stall the boosted sell-off situation. Consequently, Cardano and NEAR fell below their 20\/50\/200 EMA while poking their multi-month lows on 8 May. On the other hand, Tron\u2019s 4-hour RSI, unlike its peer alts, […]<\/p>\n","protected":false},"author":1,"featured_media":16165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[14,266,195,312],"class_list":["post-16164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-analysis","tag-cardano","tag-price","tag-tron"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/Untitled-design-19-1000x600.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16164"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16164\/revisions"}],"predecessor-version":[{"id":16166,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16164\/revisions\/16166"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/16165"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16164"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}