We will be conducting a macro analysis between the three competitors WAVES, ATOM, and DOT while analyzing their technical status and comparing all three together in the end.
WAVES has been moving quite strongly lately and was one of the top-performing assets during the last few days. Right now, it is getting rejected from the previous key-area of resistance, which has been hit with substantial buy volume. There is little to none sellvolume on the current retrace, which indicates that this retrace is not a newly emerging downtrend.
Looking at the MKAST Algorithm, there is an entirely understandable buy-condition still active. The LenLen ribbon below indicates a strong upsurge yet is still quite a bit below the price. It might be seen as the following moving support for WAVES. Interestingly, the LenLen ribbon currently also aligns with the 50% Fibonacci level. Moreover, the MKAST Index shows 13/15 points, which is relatively high and might be indicating a little more reversal before continuation.
ATOM has been moving impressively and has successfully broken the previous key-area of resistance. The current market structure looks like a bull-flag, turning the last key-area of resistance into support. The bull-flag market structure has a low sell-volume, which grants it the integrity needed. Looking at technical indicators, such as the MKAST algorithm, one can see that the buycondition is still ongoing and valid. The LenLen Ribbon is currently supporting the resistance into support flip and is like that, fully opening the possibility of a strong bounce.
Looking at the MKAST Index, one can see that it is moving below its ALMA and is at 8/15 points, which is still not "bullish enough" for an immediate breakout. This is the sign that an experienced trader would wait for a breakout.
DOT has been struggling lately with a powerful downtrend and is currently in an exciting market structure. The support of this structure is rising, yet compared to the previous times, it is inherently different. This time the buy-volume is dominating and increasing without any sell-volume spikes. The buy-volume has been steadily growing toward today's movements and has caused a small impulse to the upside with a buy-volume spike. Should this momentum continue, it should be going back for another re-test of the key-area of resistance.
Looking at the MKATS Algorithm, one can still see a sell-condition, yet looking at the LenLen Ribbon, it is clear that it is about to switch to the upside and condition it into a buy as well. The MKAST index is up-trending firmly and at 10/15 points, indicating a strong momentum and a substantial movement to the upside.
There is again a clear line between all three competitors.
Leading the race is still WAVES with the most significant opportunity for its traders, which is upcoming. The option is not fully evolved yet, still has some potential to the downside, but it is calculated and very clean.
Following it is ATOM with a strong bull-flag, yet some core-indications that it might not be as strong as it seems and a failure would become a nasty bloodbath, unlike WAVES, where the possible downside is almost precisely known.
Finally, DOT, which is still struggling with its downtrend and its movements. Currently, there might be a short-term opportunity, yet ultimately DOT needs to break the upper key-area of resistance. Otherwise, it will not regain the position in the market it once had and anticipated.
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