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October 8, 2022
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Price analysis: Cardano, Tezos and Hedera Hashgraph – April 5th

Cardano and Hedera Hashgraph in lateral movement, while Tezos seeks to break the top

Cardano was at risk of falling below the $ 1.16 support, but that was well in line with short-term expectations. Tezos has approached the $ 5.4 upper barrier once again, but it was not designed to sustain a breach. Finally, Hedera Hashgraph can see the contour movement if the current support mark is maintained.

Cardano [ADA]

Source: ADA / USD, TradingView

There have been few developments in the Cardano market in the past 24 hours, although the price has tested the lower $ 1.16 support line. A drop below this level was in line with expectations, and the $ 1.1 and $ 1.06 areas can be used to open longs trading. The OBV was well below the levels seen during March 18, as buying pressure remained subdued at the current price point.

The MACD was in bearish territory below the midline and indicated additional short-term losses. Considering the above factors, the market was not yet ready to rise above the $ 1.34 price ceiling.

Tezos [XTZ]

Price analysis: Cardano, Tezos and Hedera Hashgraph - April 5th 12

Source: XTZ / USD, TradingView

The recovery in the Tezos market was successfully completed after it reached the $ 5.4 ceiling – a level seen before the end of February retracement. The next breakthrough for the bulls was above that upper ceiling and at the $ 6 mark.

Even though the XTZ moved south after a bearish divergence in the RSI, the bulls maintained their $ 4.7 support. The MACD even closed at a bullish cross, with the price approaching the upper limit once again at the time of this writing. However, trading volumes were at the bottom and a break may not be sustained, even if it occurs in the next sessions. In the event of a slowdown, the price could move towards a strong support region at $ 4.5, which can be used to start some longs trading as well.

Hedera Hashgraph [HBAR]

Price analysis: Cardano, Tezos and Hedera Hashgraph - April 5th 13

Source: HBAR / USD, TradingView

The Hedera Hashgraph continued its move south after being rejected by the $ 0.42 resistance. To date, the price has fluctuated just above the support line at $ 0.308 and the bulls have avoided a collapse on the 4-hour chart. Successful defense of this level can lead to broader behavior, as the compressed nature of Bollinger Bands is not allowed for large price fluctuations.

The RSI avoided the oversold region and pointed north from 40. Since trading volumes were not very noticeable, an upward breakout did not seem likely, at least in the short term. In the event of a slowdown, support levels reside at $ 0.27 and $ 0.25.

Source: AMBCrypto

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