AVAX, KSM, OCEAN, AR, SOL Lead Bullish Reversal of Current Trend

• A large percentage of crypto projects have seen their prices fall over the last 24 hours.
• The prices of KSM, OCEAN, AR, and SOL are all up at press time.
• SOL’s price will have to cross the daily 20 EMA before traders will go long.

The majority of projects in the crypto space have seen their prices drop over the last 24 hours according to CoinMarketCap. With prices temporarily down, now is the perfect time to analyze crypto charts to identify trading opportunities.

5 coins that could present trading opportunities in the coming days are Avalanche (AVAX), Kusama (KSM), Ocean Protocol (OCEAN), Arweave (AR), and Solana (SOL).

Avalanche (AVAX)

AVAX’s price has dropped 3.93% over the last 24 hours, bringing its price down to $13.65 at press time. In addition to weakening against the U.S. dollar, AVAX has also weakened against Bitcoin (BTC) and Ethereum (ETH) by 2.24% and 1.18% respectively.

The daily chart for AVAX shows that the price of AVAX is trading above the daily 9 EMA line. Furthermore, the daily MACD and daily RSI technical indicators have flagged bullish. This suggests that the price of AVAX will not break below the 9 EMA line and will enter into a mini rally in the coming days.

Kusama (KSM)

Unlike AVAX, KSM’s price has risen over the last 24 hours – taking its price to $31.14 at press time. Not only did KSM strengthen against the U.S. dollar, but it also strengthened against BTC by 2.71% and ETH by 3.94%.

The daily chart for KSM has recently turned bullish as the daily 9 EMA line has crossed above the daily 20 EMA line. In addition to this bullish cross of the 9 and 20 EMA lines, the daily RSI line has crossed above the daily RSI SMA but has since sloped neutral as KSM’s price hit resistance.

Ocean Protocol (OCEAN)

OCEAN’s price has also risen over the last 24 hours by 2.22%. This has elevated the altcoin’s price to $0.1433 at press time. Similar to KSM, the altcoin has also strengthened against BTC and ETH by 4.42% and 5.65% respectively.

The daily chart for OCEAN has also recently flagged bullish as the daily MACD crossed above the daily MACD signal line. There was also a bullish cross of the daily RSI above the daily RSI SMA. This fresh bullish reversal could see OCEAN’s price rise to around $0.1614.

Arweave (AR)

AR is another altcoin on the list that has seen its price rise over the last 24 hours. According to CoinMarketCap, the price of AR is $9.58 currently after it rose 1.56%. The altcoin has also strengthened against BTC and ETH by 3.67% and 4.85% respectively.

The price of AR has risen above the daily 9 EMA to now sit between the daily 9 and 20 EMA lines. Should AR’s price successfully rise above, and maintain a position above, the daily 20 EMA line then the altcoin will present a good buy opportunity.

Should AR’s price break the daily 20 EMA line then it has room to rise to the daily 50 EMA, which currently stands at around $10.

Solana (SOL)

SOL’s price has also been able to rise slightly over the last 24 hours, and is now up 0.60%. This has boosted the altcoin’s price up to $14.14 at press time. Similar to many of the other altcoins on this list, the price of SOL has strengthened against BTC and ETH by 2.61% and 3.79% in the same time period.

Price movement for SOL has been relatively flat over the last 2 weeks as the altcoin’s price consolidated. There are, however, signs that a bullish move is on the cards as the daily RSI line is breaking away above the daily RSI SMA line. SOL’s price will need to break above the 20 EMA level before traders should consider entering into a long position on the altcoin.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.