Critical Day for 19 Altcoins: Major Unlocks and Listings Shake the Market
Key Developments in Altcoin Projects: On October 1, 2024, several altcoin projects like Sui, Eigenlayer, ZetaChain, and Maverick Protocol experienced significant token unlocks, which could lead to market volatility and increased liquidity as they become available for trading on major exchanges.
New Listings and Market Expansion: Binance announced new trading pairs for Neiro (NEIRO), while other altcoins such as dYdX, The Root Network, and Unio Coin also made headlines with new listings and community engagement events, indicating a growing interest and opportunities in the altcoin market.
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Technical Analysis for ROOT
Technical Sentiment Analysis for The Root Network (ROOT) As of , The Root Network (ROOT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ROOT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ROOT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
The Root Network (ROOT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000833 | 0.0000592 | 0.000114 | 0.000165 | 0.000219 | 0.00027 | 0.000324 |
| Fibonacci | 0.0000592 | 0.0000994 | 0.000124 | 0.000165 | 0.000205 | 0.00023 | 0.00027 |
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