Polkadot, Cosmos, Gala Price Analysis: 10 March
In the past few days, there has not been a clear trend for the crypto market. The trend has been bearish but when Bitcoin broke above the $39.4k, the near-term outlook appeared to have shifted to a bullish bias. Now, BTC was trading at $39.2k at the time of writing, and certain altcoins like Polkadot and Gala exhibited a range formation for the past few days. Will the range lows be revisited and are bulls strong enough to exert some buying pressure?
Source: DOT/USDT on TradingView
DOT formed a range (yellow) between $16.17 and $17.57 in the past few days. It appeared to flip the range highs at $17.6 to support in the past 24 hours but has since experienced heavy selling. It traded at $16.9, just above the $16.81 support.
The RSI dived below neutral 50 and the Aroon Indicator showed that the bullishness of the past couple of days had ended. The mid-point and the range lows could offer support for DOT in the next few hours.
Source: ATOM/USDT on TradingView
For Cosmos, there have been three levels of importance in the past week. These were the $27.7 support area, and the $29.8 and $31.5 resistance zones. In the past couple of days, ATOM found demand at $27.7 and had an impulse bullish move to $31.5. It was expected that $29.8 had been flipped to support.
Yet the recent selling forced price to move back toward the $27.7 demand zone. The Awesome Oscillator crossed over beneath the zero line to show bearish momentum, while the CMF stood at -0.24 to show significant capital flow out of the market.
Source: GALA/USDT on TradingView
GALA also formed a short-term range (yellow) on the charts. At the time of writing, it had fallen below the $0.223 level. The OBV showed that sellers have been dominant in the past week. There was some
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