Axie Infinity had an optimistic view in the near term that it was looking to flip $49 to support as Aave zoomed past local highs. Bitcoin’s near-term bullishness and efforts to break past the $40.8k region have also propelled altcoin values ​​such as Dash. Zcash has also been on a roll lately as the longer term market structure shifted into a bullish bias.

Axie Infinity (AXIE)

Source: AXS/USDT on TradingView

A series of Fibonacci retracement levels (yellow) was plotted based on the swing lows and highs of AXS at $41.9 and $61.32. Based on this move, the 61.8% retracement level was $49.32. This level has acted as resistance for the past week.

For the past 24 hours, the price has seen a push above this short-term supply zone and, at press time, attempted to redirect it into demand. The RSI remained above the neutral 50, while the DMI also showed a strong upward trend with both the ADX and +DI (yellow and green) climbing above 20.

Zcash (ZEC)

Source: ZEC/USDT on TradingView

ZEC was bullish on the longer time frames as it broke past the $145 resistance area, fell to $136 seeking liquidity and rose again above $150. On lower time frames, momentum was strongly bullish, while the OBV saw a slight decline. The $155.7 level has acted as support and resistance in the past and ZEC appeared to be moving below this level.

In the south, a return visit to the $145 region would likely be a buying opportunity. On the upside, $172 can be expected to act as a resistance.

Aave (AAVE)

Source: AAVE/USDT on TradingView

At the end of February, AAVE rose from $112.9 to $150.9 and tracked almost the entire move. Fibonacci retracement levels were drawn based on this move, and it showed that the $120.6 and $127.1 levels were significance levels. For the past week, AAVE has struggled below the $120 resistance. The past few days have seen AAVE climb past this level, retesting it as demand and moving higher.

The RSI has fallen from overbought territory in recent weeks but has still shown strong bullish momentum. The CMF was well above +0.05 showing strong capital flow to the market. A $130 retest can be a buying opportunity.

Dash (DASH)

Source: DASH/USDT on TradingView

The $96 (cyan box) area acted as a bullish order block earlier this week, while the $102 (red) area acted as a supply zone. Therefore, buying near the $95-$96 area and selling at $102 local highs seemed feasible.

At the time of writing, DASH was once again trading above $96 and had turned to ask again. The higher lows, in addition to the lower highs of the past week and a half, indicated that volatility was on the up. The OBV moved sideways and also compressed, while the RSI stood at 49.9 to show neutral momentum.



This post Axie Infinity, Zcash, Aave, Dash Price Analysis: March 17

was published first on https://ambcrypto.com/axie-infinity-zcash-aave-dash-price-analysis-17-march/

Author

Write A Comment