Coins Like BitTorrent, XRP, and Terra Resonated The Bull

In the last week, people witnessed a significant drop in the value of BitTorrent. However, BTT has now been in recovery mode for 24 hours. Although it has lateral trading, it manages to register an increase of 2.2 percent in the process. At the time of writing, the coin was priced at $0.0026. Now, the immediate price of the coin is $0.0030. 

In the last two weeks, the BTT bull shifted to the North. However, getting rejected again and again at 38.2 percent Fibannico level. If it encounters any further loss, the coin will push more downwards in the long-standing support line of multiple weeks, which is $0.0022. At the moment, traders are appreciating the value of this coin. However, near-term technicality is still not reflected entirely. 

Moreover, even if there is a rise in the Relative Strength, the selling pressure will continue dominating the market as the indicator continues to favor the bear. At press time, MACD displayed a slight change in the scenario as the green signal bars are visible. Also, the Directional Movement Index lines are playing for the bear in the market. 

Four-Hour Chart Of XRP/USD

At the time of writing, the price of XRP was $0.82. Also, in the last two weeks, we have been witnessing an indicated lateral price action which makes people question whether is xrp a good investment. The prices also oscillated between $0.91 and $0.74 when the coin was rejected at the 23.6 percent Fibannico level. 

However, from the past few weeks, XRP has indicated a shift in the price movement to the north after acquiring a gain of 3 percent. Even the near-term technical points towards bullish action with chances of price reversal. 

Moreover, we witnessed a Relative Strength swinging above the line after buyers entered the market. But, the indicator also showcased a decrease in the buying strength over the immediate upcoming trading sessions. MACD has continued its bullish stance. On the other hand, the On-Balance-Volume depicted a rise in the selling pressure in the market. 

Four Hour Chart Of Luna/USD

We have also witnessed Terra changing hands at $70.47. This change happens after there is a whopping price surge of 12.6 percent over the last 24 hours. Trading within a descending channel proved beneficial for the coin and it finally jumped upwards and registered higher highs in the past few days. Terra’s immediate price ceiling was at $70.99 and the invalidation of the bullish thesis pushed the coin to trade at its nearest price floor, which is 62.73 US dollars. Also, it was among the top ten coins in the crypto market. 

Moreover, the Relative Strength of LUNA has witnessed a rise from the midline as the buyers started investing in its token. Awesome Oscillator favored the bull after it displayed amplified green signal bars. Even Chaikin Flow showed a decrease in the inflow of capital in comparison to outlaws.