Polkadot, Enjin Coin, VeChain Price Prediction: 17 March

While the larger altcoin market does share a 
broad correlation with Bitcoin, the world’s   largest cryptocurrency, the said correlation isn’t 
uniform or inconsistent. This was the case over   the past week as well, with the price actions of 
Polkadot, Enjin, and VeChain underlining the same. Polkadot, the cryptocurrency ranked 
6th on CoinMarketCap at press time,   has had a good few months, with 
the altcoin surging up the charts,   both in terms of price and position. 
Over the past few weeks, however,   DOT’s movement has been very uneven, with its 
charts seeing a series of crests and troughs.

The Bitcoin-led devaluation over the last 
7 days was just another in the same series.   It should be noted, however, that 
while DOT did fall by almost 13%   in the said case, it was up by over 8% 
since. What’s more, most of DOT’s price   corrections came some time after the rest 
of the market had already corrected itself. DOT’s technical indicators 
were ambivalent as while   the Parabolic SAR’s dotted markers 
were well below the price candles,   the Chaikin Money Flow was pointing 
south, heading below zero on the charts.

The altcoin was in the news recently after its 
ecosystem developments and surging popularity   and use cases reportedly sparked a rally in the 
likes of REN and OCEAN.Before the market-wide   depreciation a few days ago, ENJ was at the 
end of a sharp uptrend on the price charts.   In fact, following the same, Enjin even hit an 
ATH. However, while it was a little late coming,   corrections did eventually affect ENJ’s market, 
with the crypto falling by over 22% later. It’s worth noting, however, that at press time, 
Enjin was still well-positioned to build on   its price action, especially since Bitcoin was 
recovering to climb above $55,000 on the charts. While the mouth of the Bollinger Bands was closing 
in to suggest some limitations on volatility,   the Awesome Oscillator’s histogram 
pictured a fall in bullish market momentum. VeChain, the cryptocurrency positioned 19th on 
CoinMarketCap’s rankings at press time, like   Enjin, was moving on the back of a sharp uptrend 
on the price charts, before corrections hit.   Like Enjin, VET too hit its ATH recently, with the 
altcoin touching $0.08 a few days ago. Alas, since   the same, the crypto has fallen by over 10%, with 
bearish momentum gaining steam across the board.

The same was highlighted by the altcoin’s 
indicators as while the MACD line was well   under the Signal line, the Relative Strength Index   was holding firm around the 55-mark after 
dipping sharply from the overbought zone..

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