BitTorrent, XRP and Terra: Coins that resonated with the bulls today!

BitTorrent in the last weeks had dropped its value considerably, however, in the last 24 hours, BTT embarked into the recovery mode. With mostly lateral trading, BTT had finally managed to register a 2.2% upward jump in prices. The coin was priced at $0.0026 at the time of writing. The immediate price ceiling for the coin was at $0.0030.

BTT/USD Four-Hour Chart

In the last two weeks, BTT’s bulls had attempted to move north, but it was rejected a couple of times at the 38.2% Fibonacci level. Further loss in the momentum would push the coin further down below the long-standing support line of multiple weeks at $0.0022. The coin at the moment appreciated in value,  however, near term technicals were yet to reflect that fully.

The Relative Strength noted an uptick, but the selling pressure continued to dominate in the market as the indicator continued to favour the bears. MACD however, displayed a change of scenario as the green signal bars were visible at press time. The Directional Movement Index lines were biased towards the bears in the market.

XRP/USD Four-Hour Chart

XRP’s price at the time of writing was $0.82 and the coin had mainly exhibited lateral price action in the past few weeks. The prices oscillated between $0.91 and $0.74 as the coin was rejected at the 23.6% Fibonacci level.

Over the past day, however, XRP exhibited northward price movement as the coin logged a 3% gain. Near-term technicals of the coin had pointed towards bullish action in the market with chances of price reversal.

The Relative Strength Index swayed above the half-line as buyers entered the market, however, the indicator also signalled a fall in buying strength over the immediate upcoming trading sessions. MACD continued its bullish stance while the On Balance Volume depicted a rise in selling pressure in the market.

LUNA/USD Four-Hour Chart

Terra was changing hands at $70.47 after scoring a whopping price surge by 12.6% over the last 24 hours. After trading within a descending channel, the coin had finally broken out in the upward direction and registered higher highs in the past few days. The immediate price ceiling was at $70.99 and invalidation of the bullish thesis will push LUNA to trade at its nearest price floor of $62.73. Additionally, LUNA was in the top 10 coins of the market.

The Relative Strength remained and rose further away from the midline as buyers were investing in the token. Awesome Oscillator sided the bulls as it displayed amplified green signal bars. Chaikin Money Flow contrastingly displayed that capital inflows remained low as compared to outflows.

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