11 Cryptos Making Technical Analysis Moves for 3/9/2022

For this 3/9/2022, we look at cryptocurrencies making waves from Technical Analysis Perspective.


Traders of different trading timeframe philosophies would agree that it is important to gain an understanding of a currency pair's price action. This importance varies among traders, but it still remains important as traders look to buy low and sell high. Every day presents new opportunities to examine cryptocurrencies and their price movement (technical analysis).

Let’s examine the cryptocurrencies that have made the most recent technical analysis moves with various indicators. This is not an exhaustive list, this is just a selection of cryptos that have made a significant movement or have made a shift. None of the below is financial advice, you are encouraged to do your research before trading or investing in any securities. Cryptocurrency positions carry risk of loss of investment principal.

Cryptocurrency #1:BSVUSD



The hourly chart of BSVUSD has the Relative Strength Index (RSI) rising above 75 in the previous trading hour, which indicates that the crypto is overbought. This is commonly used in conjunction with other indicators to confirm a possible situation where one would go short on this currency pairing, or take profits from a long position.

The Moving Average Convergence Divergence (MACD) indicator for BSVUSD on a daily chart has shown a bullish signal, the signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.


Cryptocurrency #2:BTCUSD



BTCUSD is in an overbought state according to the RSI on a 14 period basis on a hourly chart. The determination of an overbought state is that the RSI is below 25. Price action according to this popular indicator has reached a point of bullish exhaustion and there's a possible opportunity for sellers and profit-takers in long positions.

Examining the Moving Average Convergence Divergence (MACD) for BTCUSD, the signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart. This is a bullish signal, especially when combined with an upward price trend.


Cryptocurrency #3:DGBUSD



The Relative Strength Index (RSI) on a 14 period measurement on a hourly chart, which means 14 trading hours are considered in the indicator's findings, shows us that DGBUSD is in an overbought state. Criteria differ as far as what would be considered overbought, some have it at above 80 and others have it at above 70, in these reports, the decision is to compromise in the middle at 75. What does it mean to be in an overbought state? It means that the price action has reached a point of bullish exhaustion according to the RSI and there's a possible opportunity for sellers and profit-takers in long positions.

On the daily chart for DGBUSD, the Moving Average Convergence Divergence (MACD) is showing a bullish signal, the signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.


Cryptocurrency #4:KNCUSD



The hourly price is above the cloud (kumo), the price is above the Kijun Sen (a measure of the average of the highest high and lowest low over the last 26 periods, which happens to be hours on a hourly chart), and the Tenkan Sen (a measure of the average of the highest high and lowest low over the last 9 periods, which happens to be hours on a hourly chart) is above the Kijun Sen. All of this points to a bullish trend.

The Relative Strength Index (RSI) on a 14 period measurement on a daily chart, which means 14 trading days are considered in the indicator's findings, shows us that KNCUSD is in an overbought state. Criteria differ as far as what would be considered overbought, some have it at above 80 and others have it at above 70, in these reports, the decision is to compromise in the middle at 75. What does it mean to be in an overbought state? It means that the price action has reached a point of bullish exhaustion according to the RSI and there's a possible opportunity for sellers and profit-takers in long positions.


Cryptocurrency #5:LTCUSD



LTCUSD is in an overbought state according to the RSI on a 14 period basis on a hourly chart. The determination of an overbought state is that the RSI is below 25. Price action according to this popular indicator has reached a point of bullish exhaustion and there's a possible opportunity for sellers and profit-takers in long positions.

LTCUSD is appearing bullish according to the Moving Average Convergence Divergence (MACD) indicator on a daily chart with the common default settings of a 12 day Exponential Moving Average less the 26 day Exponential Moving Average with the 9 day Exponential Moving Average to be used as the Signal Line. The signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.


Cryptocurrency #6:OMGUSD



OMGUSD is in an overbought state according to the RSI on a 14 period basis on a hourly chart. The determination of an overbought state is that the RSI is below 25. Price action according to this popular indicator has reached a point of bullish exhaustion and there's a possible opportunity for sellers and profit-takers in long positions.

The Moving Average Convergence Divergence (MACD) indicator for OMGUSD on a daily chart has shown a bullish signal, the signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.


Cryptocurrency #7:PNKUSD



PNKUSD is in an overbought state according to the RSI on a 14 period basis on a hourly chart. The determination of an overbought state is that the RSI is below 25. Price action according to this popular indicator has reached a point of bullish exhaustion and there's a possible opportunity for sellers and profit-takers in long positions.

PNKUSD is appearing bullish according to the Moving Average Convergence Divergence (MACD) indicator on a daily chart with the common default settings of a 12 day Exponential Moving Average less the 26 day Exponential Moving Average with the 9 day Exponential Moving Average to be used as the Signal Line. The signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.


Cryptocurrency #8:RBTUSD



RBTUSD is in an overbought state according to the RSI on a 14 period basis on a hourly chart. The determination of an overbought state is that the RSI is below 25. Price action according to this popular indicator has reached a point of bullish exhaustion and there's a possible opportunity for sellers and profit-takers in long positions.

The Moving Average Convergence Divergence (MACD) indicator for RBTUSD on a daily chart has shown a bullish signal, the signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.


Cryptocurrency #9:SANUSD



SANUSD is appearing bullish according to the Moving Average Convergence Divergence (MACD) indicator on a hourly chart with the common default settings of a 12 hour Exponential Moving Average less the 26 hour Exponential Moving Average with the 9 hour Exponential Moving Average to be used as the Signal Line. The signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading hour on the hourly chart.

The daily price is below the cloud (kumo), the price is below the Kijun Sen (a measure of the average of the highest high and lowest low over the last 26 periods, which happens to be days on a daily chart), and the Tenkan Sen (a measure of the average of the highest high and lowest low over the last 9 periods, which happens to be days on a daily chart) is below the Kijun Sen. All of this points to a bearish trend.


Cryptocurrency #10:XDCUSD



The Relative Strength Index (RSI) on a 14 period measurement on a hourly chart, which means 14 trading hours are considered in the indicator's findings, shows us that XDCUSD is in an overbought state. Criteria differ as far as what would be considered overbought, some have it at above 80 and others have it at above 70, in these reports, the decision is to compromise in the middle at 75. What does it mean to be in an overbought state? It means that the price action has reached a point of bullish exhaustion according to the RSI and there's a possible opportunity for sellers and profit-takers in long positions.

XDCUSD is appearing bullish according to the Moving Average Convergence Divergence (MACD) indicator on a daily chart with the common default settings of a 12 day Exponential Moving Average less the 26 day Exponential Moving Average with the 9 day Exponential Moving Average to be used as the Signal Line. The signal line crossed above the MACD Line and the MACD Histogram crossed above the Zero Line in the previous trading day on the daily chart.
















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