196 Interactions, 4 today
Following a bearish divergence, Ethereum fell to $2310. BitTorrent Token seemed to be on the verge of converting the $0.0089 threshold of help, while Zcash was approaching the $300 mark.
The previous day’s bearish divergence for ETH played out, with ETH testing the 23.6 percent extension mark before bouncing back over the $2400 support level. At the time of writing, the price had risen above the 38.2 percent extension mark at $2473, and it could retest it in the coming hours to affirm its status as support.
The RSI has clawed its way back beyond the neutral 50 stage. Prices rose due to solid demand, but another decline towards $2300 cannot be ruled out. Following the solid gains of the previous week, Ether may take a breather this weekend before resuming its ascent.
BitTorrent Token [BTT]
BitTorrent Token has recently broken out above the $0.0089 mark with strong trading activity after a few days of consolidation above the 50% retracement level. This demonstrated investor conviction and a breakout, and BTT could rally to the $0.0135 highs in the days ahead.
The $0.0075-$0.0089 range is always a good place to try to collect BTT. The OBV was in a downward spiral, indicating that sale volume has been dominant since the $0.0135 to $0.0075 reversal. While the market seems to have broken out, a decline below $0.0089 could result in a return to $0.0075. Setting higher lows on the OBV will be an indication of BTT bulls’ aim.
ZEC was highly bullish on the charts and has been an indication of what “up only” means for the last three weeks. Through most of the rebound, trading volume has been above normal, and the Supertrend tracker has continued to display a buy signal with a suggested stop-loss just below $240.
After a brief fall to $240, the Stochastic RSI was heading back into overbought territory. Technical goals are $303 and $324.