Polkadot, Ethereum Classic, IOST Price Analysis: February 25

By February 26, 2021Ethereum
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Polkadot saw a rebound to $ 36 after hitting $ 28 in the past few days, but it has again fallen below the $ 34 mark. Ethereum Classic also found some resistance at the $ 12 mark, and IOST showed increasing bearish pressure.

Peas [DOT]

Polkadot, Ethereum Classic, IOST Price Analysis: February 25
Source: DOT / USDT on TradingView

The Supertrend indicator showed a sell signal for DOT after it slipped below the descending channel (cyan) and plunged to $ 28. However, since then it has made a rally towards $ 34, but whether it is more of a rebound than a recovery is a relevant question.

At the time of writing, trading volume has not really supported the recent price hike, indicating that it is indeed a rebound. The Awesome Oscillator has shown bearish momentum, but no real strength in the past few hours.

The key levels to watch are $ 34.5 and $ 36 above. A rejection would indicate bearish strength, while a switch to support can be used to enter a long position on retest.

Classic Ethereum [ETC]

Polkadot, Ethereum Classic, IOST Price Analysis: February 25

Using the Fibonacci retracement tool for ETC’s decline from $ 18 to $ 9 some levels of importance are highlighted. The RSI shows that the bears controlled the market over the past two days.

The RSI remains below the neutral value of 50.

Parabolic SAR is climbing into overbought territory.

Even as the price slid below the 38.2% retracement level. Which was not an encouraging sign for the bulls.

It is likely that the ETC will continue to decline, towards the $ 10.75 mark once again.


Source: IOST / USDT on TradingView

The IOST was steadily declining in the short term. He attempted a rally, on high trading volume, to $ 0.059 from depths of $ 0.039. However, the bears were able to force the price down once again.

One interesting aspect is the lack of purchasing power. IOST begins to slide after a rejection at $ 0.059. It showed that the bears were in control. The levels that the bulls would try to defend are the $ 0.044 and $ 0.039 levels.

A defense of either of these levels over the next few days would indicate weakening near-term bearish pressure.

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