{"id":5825,"date":"2022-01-24T17:23:38","date_gmt":"2022-01-24T17:23:38","guid":{"rendered":"http:\/\/egrowonline.com\/?p=5825"},"modified":"2022-01-24T17:23:38","modified_gmt":"2022-01-24T17:23:38","slug":"cardano-tron-axie-infinity-price-analysis-24-january","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=5825","title":{"rendered":"Cardano, Tron, Axie Infinity Price Analysis: 24 January"},"content":{"rendered":"


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As the \u2018fear\u2019 sentiment got worse, Bitcoin lost over 8% of its value in a few hours. Consequently, Tron and Axie Infinity managed to hit new lows on 24 January. Also, these bearish candlesticks accompanied high volumes, hinting at a strong bear move.<\/span><\/p>\n

The bulls visibly failed to counter the selling pressure. But, is that it?<\/p>\n

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

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

Over the past two months, the sellers have shown up at the $1.59-mark and halted the bullish rallies. Thus, the recent up-channel saw a breakdown from the aforementioned mark. The alt registered a 44.29% decline (from 18 January) and hit its nine-month low on 22 January.<\/span><\/p>\n

This fall proved menacing for the bulls as ADA fell below its\u00a0<\/span>EMA ribbons\u00a0<\/span><\/strong>and even lost the vital $1.02-mark. Now, any possible recoveries would find resistance at the 20-EMA near the $1.12-level. And, further pullbacks to find a testing ground at the $0.91-mark.\u00a0<\/span><\/p>\n

At press time, ADA was trading at $0.97. The falling wedge breakout tested the 44-mark <\/span>RSI<\/span><\/strong>\u00a0but yet again hovered around the oversold region. Furthermore, the\u00a0<\/span>Volume Oscillator<\/span><\/strong>\u00a0saw a sudden spike during the last few candlesticks, hinting at a strong bear move.<\/span><\/p>\n

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

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

After reversing from the 61.8% Fibonacci resistance on 20 January, TRX correlated with the broader trajectory and saw red candlesticks until press time. The crypto registered a 28.2% decline in just four days and touched its six-month low mark on 24 January.<\/span><\/p>\n

As the gap between the\u00a0<\/span>20-SMA\u00a0<\/span><\/strong>(red) and the\u00a0<\/span>50 SMA\u00a0<\/span><\/strong>(grey) widened, the selling influence increased. Now, the immediate testing point for the bears stood at $0.0516-mark.<\/span><\/p>\n

At press time, TRX was trading at $0.05273. The <\/span>RSI<\/span><\/strong>\u00a0was on a solid downturn and now eyed to retest the oversold territory. Also, with the\u00a0<\/span>+DI<\/span><\/strong>\u00a0looking south, the near-term momentum rested with the bears. While the\u00a0<\/span>CMF<\/span><\/strong>\u00a0corresponded with the recent plunge, it maintained its one-month support.<\/span><\/p>\n

Axie Infinity (AXS)<\/span><\/strong><\/h4>\n
\"\"<\/a><\/p>\n

Source: TradingView, AXS\/USD<\/p>\n<\/div>\n

The altcoin noted a 12.16% loss on its charts in the last 24 hours. Since striking its ATH on 6 November, AXS has steadily declined and lost multiple resistance levels over the past month. The alt lost more than half of its value (since 5 January) as it rushed south to touch its five-month low on 24 January.\u00a0<\/span><\/p>\n

After the down-channel (white) breakout, the sellers stepped in at the $79-zone and tested the long-term 61.8% Fibonacci support twice in the past ten days. Then, after losing the above support, the $45-mark support now becomes a key level for the buyers to show up.\u00a0<\/span><\/p>\n

At press time, AXS was at $45.782. The <\/span>RSI<\/span><\/strong>\u00a0was on a down-channel trajectory and displayed a one-sided bearish edge. Also, the\u00a0<\/span>Squeeze Momentum Indicator\u00a0<\/span><\/strong>continued to flash grey dots, hinting at a high volatility phase in the near term.<\/span><\/p>\n<\/p><\/div>\n


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

As the \u2018fear\u2019 sentiment got worse, Bitcoin lost over 8% of its value in a few hours. Consequently, Tron and Axie Infinity managed to hit new lows on 24 January. Also, these bearish candlesticks accompanied high volumes, hinting at a strong bear move. The bulls visibly failed to counter the selling pressure. But, is that […]<\/p>\n","protected":false},"author":1,"featured_media":5826,"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":[14,3140,266,3141,2460,195,312],"class_list":["post-5825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-analysis","tag-axie","tag-cardano","tag-infinity","tag-january","tag-price","tag-tron"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/balance-ge458774a3_1280-1-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5825","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=5825"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5825\/revisions"}],"predecessor-version":[{"id":5827,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5825\/revisions\/5827"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/5826"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5825"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}