3 Cryptos Making Technical Analysis Moves for 3/10/2022

For this 3/10/2022, 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:DVFUSD

The daily trend is an downswing and the Bollinger Bands support this case, the price is contained between the first and second Standard Deviation levels below the mean.

DVFUSD's hourly trend is bearish and the Bollinger Bands support this as the price is contained between the first and second Standard Deviation levels below the mean.

Cryptocurrency #2:EDOUSD

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

The Moving Average Convergence Divergence (MACD) indicator for EDOUSD on a hourly chart has shown a bearish signal, the signal line crossed below the MACD Line and the MACD Histogram crossed below the Zero Line in the previous trading hour on the hourly chart.