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- 1 THORChain crypto took a rebound from the 50-day EMA and surged higher.
- 2 Cardano crypto shows a consolidation after the breakout of a descending triangle pattern.
- 3 Worldcoin crypto trades at $8.31, recording a positive intraday development of 2.11%.
THORChain crypto rebounded from the 50-day EMA and is trying to recover the weekly losses on Saturday. The buyers seem to be regaining control over the short term trend and validate the breakout by sustaining outside the declining channel pattern.
Cardano crypto has showcased a breakout of the descending triangle pattern. Also, the ADA price shooted from the dynamic supports of the 20-day and 50 Day Exponential moving averages and is currently holding higher.
The current market price of Worldcoin is $8.31 and trading higher for the last several sessions and has attained 400% hike after taking rebound from the dynamic support of 20-day and 50-day EMAs.
Technical Overview of THORChain, Cardano and Worldcoin Crypto In Daily Chart
Can THORChain Price Reclaim $7 Level Again?
Recently, THORChain price noted breakout of a declining channel pattern over the daily chart. The breakout on the higher side indicated the termination of a short term correction phase.
Currently, the crypto hovers near the recent high after a breakout and consolidating, indicating the buyers presence at the lower side.
Fresh upside moves may be observed on the charts if the crypto shows breakout above the recent swing high of $5.8 level. The breakout on the higher side may unlock price potential till the $6 and $7 level.
The technical indicators imply a positive outlook above the 20, 50 and 200-day EMA. At the time of writing, the RSI was placed at 57.6 points and that of the SMA line was at 60.22 points suggesting a negative outlook.
Cardano Price Holds Higher: Is ADA Poised For A Bull Run?
Cardano Price snapped off yesterday’s losses and ended its four day losing streak. Moreover, the buyers made a comeback on Saturday near the 20-day EMA. the price might continue to draw an upward trajectory if it closes on the higher side today.
Earlier, the ADA crypto witnessed a breakout of a descending triangle pattern and made its way towards the recent high. Currently, the $0.64 level has been acting as a hurdle for the buyers and preventing the price to rise further.
Now, if ADA crypto receives enough buying volume to counter the selling pressure above the $0.64 level. It may unlock the price potential towards the higher levels of $0.7 and $0.8.
How High Can Worldcoin Price Reach Before the Month End?
From a technical perspective, the Worldcoin crypto trades higher than all of the 20, 50 and 200-day EMAs, suggesting a positive outlook in the short term as well as long term.
At the time of writing, the RSI line was placed at 83.92 points and that of the SMA line was placed at 77.27 points. Both the RSI and SMA line were hovering in an overbought region, suggesting a correction pending in the crypto.
Also, the MACD line and signal line have made a bullish crossover and lie above the zero line, suggesting a positive outlook in the short term. The buyers are currently in domination and the crypto may reach $9 level easily if the momentum resumes.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
