Following the bearish sentiment of the previous two days, Aave was compelled to return to a region of demand. Dash also fell to find good support at $245, but a close below this amount would likely see the price move to $206. Litecoin has the same confidence as Aave.
In reaction to the recent selling pressure, the 20-EMA (white) dipped below the 50-EMA (yellow), and AAVE fell below the $386-support level before rebounding off the 38.2 percent retracement level at $344.
The range that AAVE has traded within for nearly six weeks is seen in blue, and its midpoint was found to be $358, making the $244-$358 range an area of demand at the time of publishing.
The OBV indicated a floor, and going below it would result in a drop below $300. However, the possibility of this was not immediately apparent since the OBV seemed to be on an upward trajectory over the previous two weeks.
The price of DASH was rising within an ascending channel (blue). This channel’s midpoint has provided diverse support and resistance. After the recent decline from the channel’s upper boundary to find protection at $245, it was flipped to opposition.
The Directional Movement Index (DMI) did not indicate a good pattern in growth, with both the -DI (pink) and +DI (blue) falling below 20, and the ADX (yellow) falling as well. The Chaikin Money Balance fell below +0.05, indicating that capital flow into and out of the market favoured neither buyers nor sellers.
DASH is expected to retrace its recent losses and advance to $206, the 38.2 percent retracement mark, if it falls below the channel.
Litecoin burst out of a symmetrical triangle to the upside, but the recent selling pressure meant that LTC was unable to retain the $230 mark. It was pushed to return to the demand zone at $220, with the next stages of support at $200 and $180.
The RSI was above 50 on the 4-hour map – A $220 safety and a jump to $230 will indicate that the bulls are regaining momentum. Longer-term trades can benefit from scaling into long positions at the $220 and $195 levels.
180 Interactions, 6 today