Market Structure Of Terra, Aave And ICP!

TERRA ANALYSIS: AUGUST, 2021

Market Structure:

Terra is a programmable money for the internet that is easier to spend, and more attractive to hold. Here’s the market structure of Terra.

Terra is trading at $29.52. The market structure of Terra is extremely bullish owing to the break of multiple structure points effortlessly. In addition to this, the coin has rallied over 500% from $5.5 to a high of $33.50 within a month. The coin is completely in a bull dominant market. The volumes for the past three days are four times as the previous volumes. The rising 20-day exponential moving average is also another bullish confirmation.

On the lower time frame, the coin has been making a series of higher-highs and higher-lows. The coin is moving upwards along an ascending demand zone. Currently, the coin made a higher-high at $35.50 and faced new supply from thereon. It may test $27.91 in the short-term before continuing its rally.

Market Indicators:

The Relative Strength Index is indicating indecision for the coin in the short-term. The RSI is hovering right on the neutral region. It currently stands at 49.02 and has the potential to move in either direction.

The MACD is below the signal line, confirming that the coin is continuing its trajectory to a higher-low structure point.

Conclusion:

On the breakout and close above the level of $30.27, $31.92 and $33.65 are the targets on the upside.

On the breakdown and close below the level of $28.73, $27.77 and $26.89 are the targets on the downside.

AAVE ANALYSIS: AUGUST, 2021

Market Structure:

Aave is open-source and non-custodial to earn deposits and borrow assets globally. Here’s the market structure of Aave.

Aave is trading at $379.91. The market structure of Aave is bullish owing to the break of multiple structure points on the daily time frames. The structure points stood at $345.89 and $406.35 respectively. In addition to that, the coin has rallied over 110% from $214.02 to $448.44 within a month. Most of the volumes are below average with scattered above average volumes. The coin is near its 20-day exponential moving average due to which the coin can witness a bounce.

On the lower time frame, the coin is near its demand zone. This zone ranges from $370.57 to $377.81. This demand zone has protected the coin in the recent past. The immediate supply zone extends from $397.25 to $403.25. It is likely that the coin will break this demand zone in the short-term.

Market Indicators:

The Relative Strength Index is indicating mild price strength for Aave in the short-term. The RSI moved smoothly above the oversold region. It stands at 45.87 and has the capacity to move higher.

The MACD is above the signal line slightly, confirming the protection offered by the demand zone.

Conclusion:

On the breakout and close above the level of $389.19, $397.46 and $416.90 are the targets on the upside.

On the breakdown and close below the level of $370.99, $361.27 and $358.04 are the targets on the downside.

ICP ANALYSIS: AUGUST, 2021

Market Structure:

ICP is a utility token that allows users to participate in and govern the internet computer blockchain network. Here’s the market structure of ICP.

ICP is trading at $66.87. The market structure of the coin is bullish due to the break of structure on the daily time frame. This structure point was formed at $59.82 after the May crash. In addition to this, the coin has rallied over 175% in a month, and over 15% today itself. The coin is rallying along the rising 20-day exponential moving average. The volumes are very high supporting the bullish structure of ICP’s market.

On the lower time frame, the coin is near its supply zone. This zone extends from $67.60 to $69.23 on the hourly chart. If it breaks this zone, the coin may rally more. The immediate demand zone is placed between $59.82 and $61.53. Until either side is broken decisively, the coin may consolidate for a while.

Market Indicators:

The Relative Strength Index is indicating extreme price strength for ICP in the short-term. The RSI has made higher-highs and higher-lows towards the overbought region. It currently stands at 64.24 and has the ability to go higher.

The MACD is above the signal line, confirming the short-term as well as long-term bullish structure of the coin.

Conclusion:

On the breakout and close above the level of $69.29, $72.34 and $77.05 are the targets on the upside.

On the breakdown and close below $61.51, $57.69 and $54.71 are the targets on the downside.