Tezos was in danger of an extended sell-off after its price slipped below the 50-SMA. Waves continued on its downtrend after snapping a three-year local high. Finally, Maker was projected to trade within a fixed channel until a clear trend emerges in its market.

Tezos [XTZ]

Source: XTZ/USD, TradingView

Unlike most other altcoins in the market, Tezos was trading in the red, at press time, after its price fell by over 2% in the last 24 hours. There was a chance of a further sell-off at the press time price of $4.45 as the candlesticks moved below the 50-SMA (red). A fall below the press time support level would present the next line of defense at $4.1.

Read Also:   Binance Files Defamation Suit Against Forbes Reporters

The Awesome Oscillator’s red bars moved below the half-line as momentum rested with the sellers. On the other hand, the Stochastic RSI witnessed a bullish crossover in the oversold zone. A bullish outcome could see XTZ could climb above the $4.6-mark on the charts

Waves [WAVES]

Source: WAVES/USD, TradingView

The Parabolic SAR’s dotted markers highlighted Waves‘ downtrend since the cryptocurrency snapped a local high at $12.9. At press time, the market’s bulls held on to the $10-mark after buying pressure picked up. Further, the RSI settled below 50 as the price attempted a recovery on the charts.

A favorable outcome could see WAVES climb above its upper ceiling at $11.3. If the downtrend continues over the next few sessions, the next level of support would lie at $8.9.

Read Also:   Dacxi joins self-regulating trade group CryptoUK as executive member

Maker [MKR]

Source: MKR/USD, TradingView

Maker was moving rangebound, at press time, noting a lack of strong momentum towards either side. The MACD was bearish-neutral, while the Stochastic RSI was pointing south. A breakout did not seem likely over the next few sessions, with Maker expected to move within its fixed channel till a clear trend emerges.

A spike in buying activity and trading volumes would be needed to break above the strong resistance line of $2,570. Conversely, a pullback in the broader market could see MKR move below its press time support line.

Sign Up For Our Newsletter

Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Tezos, Waves, Maker Price Analysis: 17 February

by Rose Battleson
Choose A Format
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format