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Although BAT, XTZ, and EOS had been under strain during the month of December, prices picked up pace over the past few trading sessions which painted a picture of optimism for the altcoins.
Basic Attention Token [BAT]
While BAT’s price tried to gain momentum since mid-December after a difficult start to the month, resistance at $0.265 had thwarted upward movement and prices fell drastically over the past week. At the time of writing, prices were picking up once again after bouncing back from support at $0.208. In the short term, prices could continue to rise and test resistance at $0.222. A move higher could see BAT challenge next resistance at $0.239.
MACD was on the rise and implied that bullish momentum could continue to drive prices higher. Parabolic SAR also highlighted that BAT was moving upwards.
A look at XTZ’s price on the charts suggested that December had mostly been uneventful for the crypto asset. For the most part, prices traded within the confines of a tight channel, between $.203 and $2.43. Even though prices fell below the present support at $2.03 over the past few days, an upwards movement soon followed. In the near future, prices could move slightly higher above current resistance and trade between the channel at $2.03 and $2.26.
On Balance Volume continued to remain at a lower range, showing a lack of buying interest in the market.
Bollinger Bands indicated increasing volatility for XTZ and registered bullish movement as prices were rising above the signal line after trading on the lower band during the past few sessions.
In the last seven days, EOS’s price had fallen drastically on the charts. Losses of over 14% put EOS amid the biggest losers for the week, among the top 20 coins by market. At one point, prices fell as low as $1.93, the lowest they have been over the past 9 months. However, there was some optimism over the past few trading sessions, as prices were picking up pace. In the short term, prices could rise beyond present resistance at $2.67, and test the next ceiling at $2.89.
Awesome Oscillator showed that bearish momentum was declining as the bars moved toward the Zero line. However, momentum appeared to switch bullish as movement above the Zero line could dictate a rise in prices.
Relative Strength Index was in neutral territory, a slight uptick suggested that it could move into the higher territory – a bullish sign for prices.