- Both assets have been trading below the critical trend lines and may continue to decline if sellers dominate the market.
- The CMP of Aurora stands at $0.270 with an intraday gain of 6.30%, and the CMP of PORT is at $0.02054, with a daily increase of 0.40%.
According to the technical analysis, Aurora and PORT display bearish signals daily, indicating an exponential decline in price due to a downward trendline. That suggests that the breakdown may persist.
Aurora Shows A Strong Decline
Aurora is showing a strong decline and indicating that it may decrease further. It has demonstrated poor performance over the past month, dropping by 33.66%, indicating a consistent downward trend.
The Aurora cryptocurrency exhibits bearishness and downward momentum by dropping below the significant 20-day and 50-day EMA bands. If the sellers dominate, the asset’s value may decrease even further.
The Aurora asset displays bearish weakness, with the MACD below the zero line and the RSI below the median line 50 at 42.09. This indicates that Aurora’s assets are still in negative territory and may continue to decline.
Currently, the CMP stands at $0.270 with an intraday gain of 6.30% and is under the control of the bears on the daily chart. Therefore, the price is close to the critical level of $0.206 support. The price may plummet further if it fails to hold and drops more.
However, if the price surges from its current position due to increased buyer demand, it may reclaim the target levels of $0.300 and $0.500.
PORT Crypto Rides A Bearish Wave
The behavior of the PORT cryptocurrency is currently bearish, indicating a possible continued decline. Over the past month, it has performed poorly, with a decrease of -33.66%, suggesting it is steadily heading downwards.
The PORT asset has broken the critical trend lines of the 20-day and 50-day EMA bands, displaying a bearish trend. If sellers maintain their dominance in the market, further deterioration can be expected.
The PORT asset exhibits bearish weakness, with the MACD below the zero line and the RSI below the median line 50 at 44.88. This implies that the PORT Finance asset is still in negative territory and prone to decline.
The CMP is at $0.02054 when writing, with a daily increase of 0.40%. However, a bearish trendline still dominates the daily chart, and the price is close to the critical support level of $0.01700. If the price fails to sustain and drops further, it could fall even lower.
If buyer interest increases and the price rises from its current level, it could once again reach target levels of $0.03400 and $0.04000.
Summary
Aurora and PORT are exhibiting bearish signals daily, with a downward trendline indicating a potential further decline in price. Aurora has experienced a significant drop in performance over the past month, while PORT is also showing poor performance and a bearish trend. Both assets have been trading below the critical trend lines and may continue to decline if sellers dominate the market.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.