The situation on the cryptocurrency market has not significantly changed since yesterday. Almost all Top 10 coins remain in the red zone, except for Chainlink (LINK), whose rate has risen by 1.07%.
The key data for Cosmos (ATOM), OMG Network (OMG) and Algorand (ALGO) today:
|
Name |
Ticker |
Market Cap |
Price |
Volume (24h) |
Change (24h) |
|
Cosmos |
ATOM |
$1,195,449,012 | $5.92 | $174,289,268 | 5.83% |
|
OMG Network |
OMG |
$529,154,205 | $3.77 | $823,800,965 | 33.18% |
|
Algorand |
ALGO |
$497,272,184 | $0.644288 | $284,502,556 | 17.03% |
ATOM/USD
Cosmos (ATOM) has successfully bounced off the support at $5.50 and is trying to rise to the recent peak of $6.60. The rate of the altcoin has risen by almost 6% over the last 24 hours.
On the daily chart, the current rise is likely to be considered as the correction before an upcoming drop, precluding continued growth. This statement is confirmed by the declining trading volume and low liquidity. For this reason, the more likely scenario is a false breakout of the falling line at $6. If this happens, the drop may continue to the support level of $5.52.
ATOM is trading at $5.98 at press time.
OMG/USD
OMG Network (OMG) is the top gainer in our list. The rate of the crypto has rocketed by 33% since yesterday, while the price change over the last week has accounted for 117%.
OMG Network (OMG) has accumulated power for almost three months. Buyers have confirmed the start of a bullish trend; however, the altcoin is already located in the oversold zone based on the value of the RSI indicator. Thus, the liquidity is also low, which signals a possible correction. There are high chances of seeing a price drop to $2.90 before another growth wave starts.
OMG Network is trading at $3.76 at press time.
ALGO/USD
Algorand (ALGO) is the second-fastest growing coin from today's list. Its rate has increased by 17% over the previous day.
From the technical perspective, Algorand (ALGO) is trading similarly to Cosmos (ATOM). The ongoing price rise is not accompanied by a rising trading volume, which is unlikely to set new peaks. Applying the Bollinger Bands indicator to the chart, one needs to pay attention to its basic line that corresponds to $0.4877. There is a high probability that bulls will show their strength and continue the growth.
ALGO is trading at $0.6409 at press time.