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Bearish Control Fizzles Out as Bulls Dominate MATIC, CRO, DOGE

Cryptocurrency Nov 14, 2022 10:30AM ET
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© Reuters Bearish Control Fizzles Out as Bulls Dominate MATIC, CRO, DOGE
 
MATIC/USD
+5.64%
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CRO/USD
0%
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DOGE/USD
-3.62%
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  • Bulls obliterate bear control in MATIC, sending prices up 4.20% to $0.9393.
  • DOGE bulls intervene, pressing prices up by 2.29% to $0.08773.
  • Positive momentum in the CRO market is expected to last as bulls recover.

Following a recession and sell-off in the Polygon (MATIC) market in the previous 24 hours, a bullish reversal pattern has been observed, with the bulls managing to pull their prices up by 4.20% to $0.9393.

MATIC/USD 1-day price chart (Source: CoinMarketCap)

Fusiform Bollinger Bands on the 1-hour price chart reflect growing market activity with increased selling and buying pressure. This action boosts the likelihood of a breakout, implying that the bullish trend may persist. The progression of the pricing above the upper Bollinger Band, which is at 0.9489, is propping up this upturn, while the lower band is at 0.8371.

The Bull Bear Power (BBP) pointing upwards and shifting above “0” with a reading of 0.1025 also forecasts a perpetual uptick.

The Chaikin Money Flow (CMF) also anticipates additional bull supremacy in the MATIC market with a reading of 0.22 and a pointing upwards.

MATIC/USD 1-hour price chart (Source: CoinMarketCap)

Bulls are striving to reconquer the Cronos (CRO) market, which has pushed prices up by 4.53% to $0.$0.06835 in recent hours. The entry of crypto.com into the limelight after its CEO announced that $400 million was sent to the wrong address has caused this uncertain fad.

CRO/USD 1-day price chart (Source: CoinMarketCap)

The MACD blue line on the 1-hour price chart shifts above the signal line and points upwards, along with the histogram motion in the positive territory, indicating that bulls are in control. However, a reading of -0.0012 indicates that bears may plunder the market from bulls.

The 5-day MA crosses above the 20-day MA, forming a golden cross pattern, indicating a bullish traversal. The 5-day MA is at 0.0651 and the 20-day MA is at 0.0618. which is supported by the market price rising above both Moving Averages.

CRO/USD 1-hour price chart (Source: CoinMarketCap)

To nullify the current bear control of the CRO market, bulls must continue to outnumber bears.

Bear control has been cracked in the Dogecoin (DOGE) market in recent hours, with prices rising by 2.03 % to $0.08786. The 1.08% increase in market capitalization to $11,512,998,408 may have been attributed to the price increase.

DOGE/USD 24-hour price chart (Source: CoinMarketCap)

These bulls’ run is characterized by broad Bollinger Bands on the 1-hour price chart, with the upper band touching 0.08933 and the lower band touching 0.08038. This positive momentum is supported by the price oscillation towards the upper band.

The Know Sure Thing indicator makes a bullish transition, pointing upwards and moving into positive territory with a reading of -46.0004, indicating that bull control will be upheld in the near term.

The Stoch RSI score reached 96.68 in recent hours, denoting that a turnaround was imminent, owing to the bulls’ recent market capture.

DOGE/USD 1-hour price chart (Source: CoinMarketCap)

If the bulls continue to prevail, this bullish run will continue in the DOGE market.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Bearish Control Fizzles Out as Bulls Dominate MATIC, CRO, DOGE appeared first on Coin Edition.

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Bearish Control Fizzles Out as Bulls Dominate MATIC, CRO, DOGE
 

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