Cryptocurrency Altcoin ID Experiences a Bearish Trend
Author: Anthony BrooksMACD line which is the difference between fast and slow moving average is currently below the signal line, thus, confirming the bearish trend. The histogram model is also showing an increase in red bars ensuring that the altcoin might continue to fall further. On the other hand, RSI which is an oscillator indicator is currently at 32.15, indicating weak trend. The RSI is below the SMA line, thus, suggesting bearish sentiment. However, hope persists as the RSI is pointing upwards.
Furthermore, if ID breaks the Weak Low, it could continue to plummet to the Support level. On the contrary, if the altcoin breaks the Resistance level then it could reach the Strong High level at 0.93716. Finally, traders should be cautious of any opportunity for trend reversal as most of the indicators point out that ID could continue in the bearish sentiment.