While the broader market was struggling to extend a solid rally to reverse the bearish trend, Solana continued to show range-bound oscillating trends. Although Ethereum crossed the $3,766 mark, it still could not trade in substantial volumes.
On the other hand, Chainlink’s short term SMA crossed the 50-200 SMA, indicating a strong bullish trend.
Ethereum (ETH)
After a downside channel breakout, ETH surpassed the $3,766-support and tested the $3,836-level of resistance three times in the past two days. King Alt formed an ascending channel (white) on its 4-hour chart.
Now the immediate support stood at the up-channel half line which coincided with 20-SMA (Red). although volume oscillator was still in a downtrend, indicating a weak bullish momentum.
As at press time, Alt was traded at $3,834.5. After hitting its record low of 18.78, RSI Saw high peaks and pools. It eventually held a close above the half-line. Whereas DMI A slight bullish choice is depicted, ADX Displayed a weak directional trend for the alt.
solana
Alt has seen a 5% pullback in the past day, but the bulls were quick to reclaim the 61.8% Fibonacci support.
SOL continued its low volatility phase by finding an oscillating range between the $176 and $167-points. Thus squeeze speed indicator Still glowing black dots.
As at press time, Alt was trading at 171.3875. RSI After finding strong resistance near the half-line was at 46-mark. This also DMI showed a bearish preference, but ADX Exhibited weak directional trend.
Chainlink (Link)
Price action oscillated in a down-channel (yellow) and tested support around seven times at $17.7 before forming a double bottom.
Over the past week, there has been a decline in the falling wedge (green), while the bulls secured the $19.3-support. The recent breakout prompted a 25.13% ROI over the past four days. With this boom, LINK’s 20 SMA across it 50-200 SMA Alluding to a one-sided uptrend. Now, an immediate resistance is located at the $24.46 level.
At press time, the alt was trading at $24.02. RSI was in a clear uptrend as it approached the overbought area. Additionally, the respective volume and obv Saw a spike, indicating a healthy breakout.