Polkadot was backed by strong technicals and a dip below the $40-mark was unlikely over the coming sessions. VeChain lacked the buying pressure to snap a new high, while Hedera Hashgraph needed to negotiate some bearish presence in the market before resuming its uptrend.
Polkadot [DOT]
Source: DOT/USD[1], TradingView
While Polkadot[2] did pickup from late-February levels, the price largely remained restricted below the $40-mark. This had become a recurring theme during the month of March as the price moved south despite several attempts to rise above this psychological level. A rally from $28.7-support over the last week enabled DOT to finally rise above this coveted mark and snap newer levels.
At the time of writing, the price looked to stabilize on the 4-hour timeframe. This was evident on the RSI, which reversed direction and settled at 63 after showing overbought conditions in the market. If the MACD avoids a bearish crossover, the price could even maintain the $44-43 mark. For now, there was no indication of a move below the $40-level, but the dip could offer buy signals for long-term traders.
VeChain [VET]
Source: VET/USD[3], TradingView
VeChain[4] performed impressively during March and its uptrend was clear on the 4-hour timeframe. The price moved within an ascending channel for most of the month as VET saw gains of 76% in the last 30 days. While the price did break downwards from this channel, the bulls were able to push the price north of $0.084-resistance and flip it to a region of support once again.
At the time of writing, the price was trading at the mid-point of its immediate support and resistance, and just 9% off from its all-time high. On the downside, the OBV
