Market Recovery Hindered by Resistance
The cryptocurrency market has made a recovery from its recent dip, but buyers are struggling to maintain positive momentum above the recent peak. The upward movement is being hampered by strong resistance at higher price levels, and several altcoins have shown poor performance.
Flare (FLR)
Flare (FLR) has regained its upside momentum over the past week and risen above the overhead barrier at $0.035. It is currently in an uptrend during a bull market. However, the bullish momentum has encountered resistance at $0.05, causing the altcoin to fall back towards its current support of $0.035. If the bears break this support level, FLR will remain under selling pressure. On March 4th, the altcoin bounced when it retested the current support, indicating strong buying activity above that level.
- Current price: $0.039
- Market capitalization: $4,040,972,405
- Trading volume: $16,558,769
- 7-day loss percentage: 17.02%
Kaspa (KAS)
Kaspa (KAS) is currently moving upwards but is in a sideways trend below the $0.155 resistance level. The altcoin has been trading within a narrow range of $0.10 to $0.155. On February 19th, it reached a high of $0.18 before being pushed back. KAS is currently between the moving average lines and experiences slower price action due to the presence of doji candlesticks. Its current price is $0.152.
- Current price: $0.152
- Market capitalization: $4,498,504,213
- Trading volume: $98,423,648
- 7-day loss percentage: 11.52%
Sei (SEI)
Sei (SEI) is now in an uptrend and has fully recovered from its previous downtrend. The cryptocurrency is retesting the overhead resistance at $1.00, which proves challenging for buyers to penetrate. SEI will achieve a full recovery if it overcomes this resistance level. Currently, the altcoin fluctuates between the price levels of $0.55 and $1.10. Its current price is $0.91.
- Current price: $0.8482
- Market capitalization: $9,127,503,190
- Trading volume: $733,018,772
- 7-day loss percentage: 6.14%
Sui (SUI)
Sui (SUI) has also experienced an upswing and fully recovered from its previous slump. The cryptocurrency broke above the overhead resistance at $1.10 and resumed its uptrend. However, the upside momentum is currently stalled at the $2.00 high. SUI is trading between the moving average lines and will enter an uptrend once the 21-day SMA and the $2.00 barrier are breached. Its current price is $1.57.
- Current price: $1.53
- Market capitalization: $15,795,973,376
- Trading volume: $393,285,081
- 7-day loss percentage: 9.32%
Market Summary
The cryptocurrency market has seen a recovery, but the resistance at higher price levels is hindering further positive momentum. Several altcoins, including Flare (FLR), Kaspa (KAS), Sei (SEI), and Sui (SUI), have shown poor performance. Here is a summary of their key features:
- Flare (FLR):
- Current price: $0.039
- Market capitalization: $4,040,972,405
- Trading volume: $16,558,769
- 7-day loss percentage: 17.02%
- Kaspa (KAS):
- Current price: $0.152
- Market capitalization: $4,498,504,213
- Trading volume: $98,423,648
- 7-day loss percentage: 11.52%
- Sei (SEI):
- Current price: $0.8482
- Market capitalization: $9,127,503,190
- Trading volume: $733,018,772
- 7-day loss percentage: 6.14%
- Sui (SUI):
- Current price: $1.53
- Market capitalization: $15,795,973,376
- Trading volume: $393,285,081
- 7-day loss percentage: 9.32%
Hot Take: Market Recovery Hindered by Resistance
The cryptocurrency market has made a recovery from its recent dip, but buyers are struggling to maintain positive momentum above the recent peak. Strong resistance at higher price levels is hindering further upward movement. Several altcoins, including Flare (FLR), Kaspa (KAS), Sei (SEI), and Sui (SUI), have shown poor performance in this market. It remains to be seen how these altcoins will fare in the coming days.
Cabel Dioli emerges as a luminary seamlessly blending the roles of crypto analyst, dedicated researcher, and editorial artisan. Within the dynamic expanse of digital currencies, Cabel’s insights resound like finely tuned notes, reaching minds with diverse inquisitiveness. His mastery in unraveling intricate threads of crypto intricacies harmonizes effortlessly with his editorial finesse, transforming complexity into a captivating symphony of comprehension.