Cardano, Polkadot, Cosmos Price Analysis: 06 August

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Bitcoin and Ethereum’s movement was not followed by all altcoins rising on their respective charts. ADA remained range-bound while some altcoins such as DOT presented mixed signals. On the contrary, ATOM reacted positively and was heading towards its immediate resistance level after gaining by 4.7%

Cardano [ADA]

ADA/USD ^[1], TradingView

Following a minor 0.6% hike, ADA’s price, at press time, stood at $1.36. It bounced back from the $1.33 support level a few days ago, but ADA ^[2] failed to topple its $1.38 resistance level.

The Awesome Oscillator exuded mixed signals as both green and red signal bars were visible over the last few trading sessions, negating any particular direction the altcoin had. The Bollinger Bands contracted, at press time, underlining the chances of further range-bound movement.

The Relative Strength Index dipped and closed in around the equilibrium zone.

Polkadot [DOT]

DOT/USD ^[3], TradingView

DOT ^[4] saw some consolidation, with its price ranging between $17.91 and $19.64. It had attempted to test its immediate price ceiling of $19.64 a couple of times over the last week, but sellers denied a breakout. As the technical indicators painted a bearish signal, with the Awesome Oscillator observing red bars and the MACD showing red histograms, the price could retrace and rest at $17.91.

The Relative Strength Index, however,

Cardano, Polkadot, Cosmos Price Analysis: 06 August

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