The altcoin market appeared to be moving more in parallel with bitcoin. As a result of BTC’s failure to break out over $52,000, several altcoins have been rejected from high levels of resistance. EOS has been unable to hike beyond $4 in the past few days, while Crypto.com Coin has retraced some of its losses after a solid bullish run over the past month. In the end, Dash noted a bounce, but was likely to be pulled down again.
For EOS, while the 4-hour RSI graph climbed above 50, there was still an obstinate amount of resistance to face at the $4-mark. The rebound from $3.3 was rapid, but this was just a partial recovery, and further progress needs to be made before bulls can be deemed to be in the driving seat.
EOS has been testing the $4-level for the last 24 hours and has been moved down to $3.76. A close-up of $4 backed by a strong selling volume can be seen as a cue to purchase EOS about the $4-mark, with a stop-loss of only $3.9. The $4.4-zone was a supply area which can be used to close the long place for EOS.
Crypto.com Coin [CRO]
Over the last few weeks, CRO has been on a phenomenal streak. The breakout past $0.08 heralded an uptrend for CRO, and hit a high of $0.27 before it was forced to retrace some of its losses.
The Fibonacci retracement tool has shown that CRO has bounced after checking the 50 percent retracement mark – a sign of bullish power. Over the past few days, CRO has climbed back over the $0.146 support mark.
The area from $0.13 to $0.15 can be used to accumulate CRO over the next few days. The defending of the 50% mark was a bullish creation. Climbing back above the $0.173-level will probably pave the way for another leg upwards.
The 20-and 50-period EMAs (white and yellow) reported a decrease in momentum over the last few days, while the Parabolic SAR displayed a purchase signal and a stricter stop-loss stage.
For DASH, the pattern has been downward since mid-February, with the crypto tracking solid gains from previous weeks. Over the past few days, the Bollinger bandwidth metric has fallen to indicate lower uncertainty behind DASH’s price movements.
An region of supply for DASH from $235 to $245 can be found above the declining trend line (orange). Even if the MACD developed a bullish crossover and grew above zero, the lack of DASH trading liquidity at a bounce of $180 meant that a further downside was possible.
250 Interactions, 2 today