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, very impressively, as mentioned in the previous macro analysis reports. It merely has been going through resistance powerfully and straightforwardly without getting any halt or stop. The most recent candles have high wicks to the upside, which indicates that sellers are taking part in the market, and buyers are taking profits.
Nevertheless, while looking at the MKAST Algorithm, one can identify a strong buy condition and see that the MKAST LenLen Ribbon is moving intensely to the upside yet is still below the previous key-area of resistance. The plan here is that WAVES might retrace into the previous key-area of support and come for an S/R flip and continuation from thereon.
ATOM has been moving rather slowly lately and has not seen too much upside as the rest of the market. This is an indication of either consolidation below resistance or a sign of weakness where ATOM cannot break out above resistance.
Looking at the MKAST Algorithm, one can identify a bullish condition, which is entirely understandable since the chart has been rising slowly instead of consolidating below resistance lately. The bullish state and the rising MKAST Index at 11/15 points increase the ATOM's chances of breaking out soon. Should this breakout not happen, ATOM might get into trouble and lose whatever little bullishness it still has.
DOT has finally broken out of the long-lasting keyarea of resistance. One can currently identify a string bullish engulfing through the key-area of resistance, which is inherently a bullish sign and increases the chances of a continuation dramatically.
Looking at technical indicators, one can identify a buy-condition on the MKAST Algorithm, which is entirely understandable by now, why the algorithm has switched bullish right below resistance. The MKAST Index is moving powerfully to the upside and currently above the ALMA of the Index. The bullish cross of the Index ALMA is further confirming the bullish bias of DOT. The best-case scenario here would be a strong push to the next key-area of resistance from there on a healthy and low volume retrace to the previous resistance level, which has been broken today.
WAVES is moving very strongly compared to the rest of its competitors. It has been breaking through any resistance levels and pushing strongly towards new AllTime Highs. Following it is DOT, which has broken out forcefully through a major key-area of resistance and has a great chance of continuation following this breakout. Finally, ATOM has still not seen a strong and impulsive move and does not indicate a lot of strength, as the entire market is moving, and it has not seen a decisive action yet.
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