The post While Bitcoin Hits $70K, RIVER, DEXE, and QNT Move In Opposite Directions appeared first on Coinpedia Fintech News
The cryptocurrency market is red today, Bitcoin lost its strong support at $710000 USD. Some altcoins, such as RIVER, Dexe, Quant, and JUST, are moving in opposite directions. Let us examine the strength of this trend continuation.
Bitcoin, after losing its critical support at $71,000, tested the $ 70,000 support today, indicating increased volatility amid the war. The world’s largest cryptocurrency looks bound to range between $70K USD and $74K USD. Ethereum (ETH), BNB, XRP, and Solana (SOL) all follow the Bitcoin trend and show negative 24-hour growth.
RIVER Coin Eyes at $40
RIVER Coin is now trading at $26.9 USD, above all moving averages with a sharp 24hr surge of 12%. Following the successful cup-and-handle pattern, this cryptocurrency has risen by nearly 50% over the past week and by 112% over the past month.
Driven strong system updates like reaching $27M in staking value ( 1.04M tokens), then the DIA Oracle Partnership on March 12, PancakeSwap 340% APR pool launch, and the River4Fun rewards points program. Additionally, the SatUSD listing on Stargate Finance further amplified community sentiment.
RIVER/USDT 4h Chart is bullish
As we see, RIVER/USDT is trading above all the major EMAs and holds support at the 21 EMA and the 50 Day EMA golden crossover.
A rejection near $24 was observed, but the asset pulled back above $27, indicating strong buyer interest.
A psychological resistance is at $30, passing which the RIVER price can trigger to $33 to $35 zone. Support is at $24, which is strong here. RSI at 69 is strong but not in an extreme overbought zone yet.
With the current liquidity and market structure, the price is headed towards $40.
Dexe Coin Hits 4-month high
The governance token Dexe is one of the best performing crypto in recent times. Dexe coin, at the time of writing, has surpassed $6, a strong resistance level, and is now changing hands at $6.14.
The Coin has moved 13.24% in the last 24 hours and 162% in the last 30 days of trading.
DEXE/USDT Chart Prints Bullish picture.
As seen on the DEXE/USDT 4-hour chart, the short-term and mid-term momentum continues to be bullish. Surging above the $6 territory has pushed bulls into a stronger zone to hit the next ultimate resistance at $7.5 and further at $8.3.
After we apply the Ichimoku Cloud indicator, which shows the moving resistance and support of an asset, it prints a bullish scenario as the price trades above the cloud.
Also Applied, Directional Movement Index (DMI) that reflects buying and selling pressure, now shows a positive directional index (+DI) resting above the negative directional index (-DI).
Additionally, supported by the consistent positive closing of derivatives markets since 13 March. The tokens ong/short ratio has returned 1 value in the last week.
If the momentum changes, the Dexe coin price has strong support at a low of $4.42
Quant, QNT needs a push.
QNT/USDT, at the time of writing, is $75.91 with a 24-hour surge of 5.74% and a weekly surge of 20%. The crypto in the daily time frame chart can be seen creating a triangle tight consolidation pattern, usually a setup for a potential breakout.
A break below this descending resistance line will take QNT into a bound zone between $83 to $120, and further gains thereafter to market momentum.
The ultimate level of the 200-day EMA, priced at 79.36, is a barrier; if breached, the break above is confirmed. The momentum indicator RSI is at 72, not highly overbought, and may face a little flattening ahead. MACD has a bullish crossover still.
Quant coin presents indicators, and market sentiment is neutral to bullish, if there is invalidation of the trend, we have support at $68.3 and then at $62.