The market caps of XRP, IOTA and AAVE have all increased in the past 24 hours amid an uptrend in the broader cryptocurrency market. In fact, Aave was one of the market leaders and Dogecoin and MATIC were on the same list as well.
XRP highlighted the potential for a pullback to the upside amid significant buying pressure, while IOTA presented a decline in capital outflows.
XRP broke the $ 0.570 support level on July 19, after which it traded sideways for most of yesterday. However, as the broader market recovered, XRP rallied overnight and climbed to $ 0.552 at press time. Stronger gains would mean XRP will test the $ 0.057 resistance level.
A period of high volatility may soon follow, as evidenced by the indicator readings Squeeze Momentum Indicator as during printing, it flashed release of compression. When the price bounced overnight, buying pressure returned to the market, as evidenced by Relative Strength Index splash.
IN MACD noted bullish crossover on July 21, followed by rising green histograms.
IOTA peaked 8.3% in the last 24 hours on the 4-hour trading chart and may soon break the $ 0.634 resistance level. At press time, altcoin was trading in positive territory with an 8.87% increase in market capitalization. Moreover, an altcoin recovery could reverse a 16.5% drop in value on a weekly basis if the price continues to rise significantly over the next few trading sessions.
Due to the rise in price Bollinger Bands we diverging at the time of publication – a value that indicates an increase in price fluctuations. Capital inflows also increased, with Chaikin’s cash flow.
IN MACD The indicator highlighted the beginning of a bearish signal, while at the time of publication only one green histogram was visible, followed by a bullish crossover that occurred on July 21.
The Aave price move also experienced some breathing room as the altcoin rallied and stalled at $ 246.76, up 13.5% in 24 hours. Aave was one of the growth leaders after the cryptocurrency market recovered overnight. With the downtrend slowing for the entire cryptocurrency market, even Aave could try to test resistance levels by moving forward. The closest key resistance level for the coin was at $ 249.50.
Market volatility may increase as suggested Bollinger Bands… IN Medium directivity index indicates weakening of the bearish signal, so that the bulls could push the price up in the short term. However, it is difficult to say if the uptrend can continue over the next few trading sessions.
IN Awesome oscillator green signal bars were flashing during the publication, indicating bullish strength in the market.