Cardano, IOTA and ICON look like the best recovering alts

Cardano, IOTA, and ICON – all three altcoins are recovering much better than many major coins. All three coins have managed to find stable support, even though short-term breakouts have been indicated here and there.

Source: Cardano/USD, TradingView

Ranked 14 on CoinMarketCap, the developers behind Cardano have been coming up unique software developments very often when compared to other altcoins. The coin has been trending downwards since March 7, like many other altcoins. It fell by 66%, however, a slight uptrend has been noticed since March 16, as the coin rose by 65% in four days. Bollinger Bands and CMF indicators signal a possible upward breakout.

Resistance: $0.04, $0,05
Support: $0.021, $0.024, $0.026

At press time:

Price: $0.028
Market Cap: $769,218,741
24-hour Trading Volume: $79,420,714

IOTA

Source: IOTA/USD, TradingView

The coin had maintained support at $0.2 until the market crash on March 12, which further pushed down the price by a 61% drop. Starting March 16, however, the price rose up by 87% and has maintained the support at $0.12 since then. The above chart indicates the formation of a descending triangle which signals a downward breakout. RSI indicator hints at a potential ‘oversold’ situation.

Resistance: $0.150, $0.159, $0.173, $0.223, $0.264
Support: $0.12, $0.10, $0.09

At press time:

Price:$0.14
Market Cap: $391,581,459
24-hour Trading Volume: $9,385,889

ICON

Source: ICON/USD, TradingView

ICX has had a stable couple of days; it has maintained the support at $0.17 for over a week now. However, there’s a potential descending triangle being formed in the above chart which hints at a downward breakout. However, the Awesome Oscillator indicator and StochRSI indicate an ‘overbought’ situation.

Resistance: $0.22, $0.24, $0.33
Support: $0.17, $0.16, $0.14

At press time:

Price:$0.20
Market Cap:$107,490,003
24-hour Trading Volume:$13,925,981

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