The altcoin market was impacted positively by Bitcoin’s move above $50K. IOTA rallied by 22.4% and closed in on a resistance mark of $1.57. Enjin Coin appreciated by 2.9% and moved away from its quick assist line of $2.00. Finally, XRP logged a 5.7% gain and eyed its immediate resistance of $1.31.
XRP
XRP moved north by 5.7% for the reason that previous day and snapped a weekly excessive at $1.28. The alt’s immediate price ceiling stood at $1.31 .
Relative Power Index remained above the 70-mark indicating overbought situations. Awesome Oscillator flashed green signal bars which also affirmed positive price movement in the market. MACD underwent bullish crossover and displayed inexperienced histograms.
If XRP falls below the current level, it could touch a support line of $1.19. Failing to maintain above $1.19 may push XRP decrease in direction of $1.07. Indecently, the $1.07 level has triggered multiple rallies in the past month.
IOTA
IOTA was on a robust uptrend and surged 22.4% over the past 24 hours. The digital asset was priced at $1.44 and the next resistance lay at $1.57. On the present worth degree, IOTA secured a multi-month excessive. The alt could maintain its uptrend if prices close above the $1.21 level.
Parameters depicted robust bullish momentum. Chaikin Cash Stream remained above the half-line, close to the 0.45 mark. The coin had last touched this level at the beginning of August. Inexperienced sign bars grew on the Superior Oscillator. Relative Strength Index rested above the 80-mark, marking a multi-month high as well.
In case of a corrective pullback, IOTA’s quick assist line rested at $1.21 after which at $1.11.
Enjin
Enjin logged a 2.9% gain over 24 hours and traded at $2.11. With a sustained uptrend, it may retest a multi-month excessive of $2.20.
Relative Strength Index noted an uptick and moved into the bullish territory after buying pressure grew stronger. Nevertheless, momentum was weak on the Superior Oscillator.
Moreover, Bollinger Bands converged heavily and indicated a period of consolidation.
In case of a worth reversal, Enjin may drop to a 1-wk low at $2.0. Failing to remain above $2.00 would push the alt to $1.77- a level which hasn’t been toppled since the last two weeks.
