Bitcoin faced some selling pressure just above the $59k mark, leading it to slip to $56,600. The majority of the altcoin industry saw a pullback, some more severe than others. Chainlink was already in an uptrend, but it was unable to retain the $31.4 mark. Enjin Coin plunged below the help it had been consolidating above, and DigiByte also suffered losses but proved that it could rebound rapidly.
Chainlink was unable to test the $33 resistance threshold during its latest foray beyond $30, but LINK is expected to make another attempt in the coming days. The $28.6 support level is important. It has turned the momentum in favour of the bears many times in recent weeks, and if this amount is broken, Connect will sink as low as $27 and as far south as $25.9.
At the time of publishing, the Amazing Oscillator was above zero, and the 50-period EMA (yellow) got some price help.
DGB also dropped from $0.086 to $0.078 and was selling at $0.082 at the time of publishing. The price was better than the EMA ribbon. DGB could slip more to $0.0689 if the trading session closes below the $0.0749 support mark, making this a region of concern.
However, the OBV revealed that buyer demand has been slowly increasing over the last month. This has caused the price to rise from $0.05, with occasional pullbacks in between. The latest decline is most definitely just one more of these. As a result, $0.0749 is a decent spot to hunt for bargains.
Enjin Coin [ENJ]
On the 4-hour map, the RSI fell below neutral 50, indicating bearish momentum. The price also plunged below the $2.4 support mark, which it had been consolidating above for a few days.
The market retested resistance, and the Bollinger bands widened in recent hours as the price fell below the 20 SMA (white). ENJ could slip to $2.06 as a result of this.
238 Interactions, 4 today