Cardano, Cosmos, Compound Price Analysis: 17 July

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Altcoin prices have descended of late, with some cryptos including Cardano struggling to hold themselves from falling through vital support levels. ATOM’s fall in price pushed its market cap down by 5.23% and finally, COMP registered low market volatility on the charts.

Cardano [ADA]

ADA/USD ^[1], TradingView

ADA ^[2] recorded a marginal fall of 0.9% over the last 24 hours. However, over the last week, ADA was down by 13.1%. The alt traded in a directionless manner for most of this month and subsequently, over the last two weeks, set out on a downtrend.

ADA struggled to stay above its immediate support levels, with Bitcoin’s bearishness passing on sell signals too.

The Relative Strength Index noted a downtick again, indicating that buying pressure was considerably low at press time. Correspondingly, the Chaikin Money Flow also pictured a fall in capital inflows.

The MACD indicator stretched laterally with mostly bearish signals as red signal bars were visible at the time of writing. The indicator registered a bearish crossover on 12 July.

Cosmos [ATOM]

ATOM/USD ^[3], TradingView

ATOM’s ^[4] prices declined post 12 July and even though it revived ever so slightly over the last 48 hours, that did not last long. At press time, the alt was priced at $10.53 with an intra-day gain of 2.0%.

The bears in the market

Cardano, Cosmos, Compound Price Analysis: 17 July

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