436 Interactions, 2 today
Chiliz started to fall down the rankings. Many big altcoin funding prices were very high, implying that a shakeout to reset funding could occur shortly. On the spot trading front, Dogecoin and Litecoin have seen high demand in recent days as they have flipped key amounts of resistance to support.
Chiliz has been in a slow decline since hitting highs of $0.94. CHZ is supported at $0.47 and $0.42, and a further decline could trigger demand at $0.37. However, there was no indication that CHZ was able to resume its turnaround towards $0.9.
The A/D line indicated solid, consistent selling pressure on CHZ, forcing the coin to drift lower down the charts in recent weeks. It was only a matter of time before CHZ fell below the $0.4 mark.
Dogecoin recently flipped the $0.062 mark from opposition to help and has seen high trading activity since. The RSI entered overbought territory and fell to 66, while DOGE fell from $0.075 to challenge the $0.0716 retracement mark.
A more significant retracement to $0.066 is also likely. Following this correction, DOGE is expected to resume its march towards $0.08, with some extension levels plotted in grey.
DOGE will fall down towards $0.05 if it falls below the 50% retracement level at $0.062.
LTC developed a rising wedge pattern (white) on the hourly chart and fell from $228 to $217 before resuming its upward trend. The $220 market region lived up to its reputation, and the $230 and $244 ranges have flipped to assist.
At the time of publication, LTC was worth $256. The rate of overhead resistance are $270 and $287.
Although the Awesome Oscillator was pushed to return to 0, momentum was clearly bullish on longer timeframes.