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 very impressively lately and is not disappointing as other altcoins do lately. It moves upwards and forwards very powerfully and makes sure that it keeps and holds the key-areas of support.
Currently, one can see that WAVES has broken the key-area of resistance and is now re-testing it as a form of support. It is worth mentioning that WAVES broke the mentioned key-area of resistance with a strong impulsive move followed by a bull-flag. This case is even more critical when re-testing the level as support again.
Looking at technical indicators, such as the MKAST Algorithm, one can identify an entirely understandable bullish condition and the LenLen Ribbon, which is currently at the previously mentioned key-level and is being re-tested as well. Usually, such a re-test results in a strong push to the upside. The MKAST Index is breaking below its ALMA, which is inherently not a bullish sign. It merely should be a sign to be cautious. Nevertheless, the chances are still very high for WAVES to make the next impulsive move soon.
ATOM has been struggling lately and not seeing much volatility during the recent market conditions. Nevertheless, it is currently re-testing the previous key-area of resistance and turning it slowly into support, significantly since the volume is steadily decreasing, and there are almost no sell-volume spikes.
Furthermore, ATOM has a slightly divergent descending channel as a market structure. These channels tend to be over-extended and cause a max pain scenario, but in this case, the bullish integrity of the channel is valid and can cause a breakout soon.
Looking at technical indicators, such as the MKAST Algorithm, one can see a bullish condition which is still ongoing, yet it might be changing soon into a sell condition if a strong move to the upside doesn't happen soon. The MKAST Index is at 2/15 points, which is nearly over-sold conditions and indicates substantial traders' opportunity.
DOT is finally coming back to life again. It is seeing an upsurge and is finally breaking the key-area of resistance, which it has been fighting for the last few weeks. The break of this resistance is fundamental and has happened already. The only thing left to do is a solid re-test of this area to finally and once and for all turn it into an area of support.
Looking at the MKAST Algorithm, one can identify a bullish condition that is entirely understandable and supports the price movement. The MKAST Index just broke above its ALMA and shows 13/15 points, which is getting into an area of impulsive moves.
WAVES is leading the race very clearly. It is bullish and turning previous resistance into support after a strong breakout. ATOM is following, since it is slightly and increasingly bullish, yet could be having some trouble and possible break down if the strength doesn't show. On the other hand, DOT gains bullish momentum and could be seeing a strong impulsive move very soon again.
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