140 Interactions, 2 today
Ethereum, after following the path of BTC, recovered and oscillated between a small range awaiting to break the $2300 mark and just 24 hours back it had successfully crept above that mark. At press time, however, the coin registered losses over the past day and fell below the $2300 resistance levels again. Chainlink’s buying pressure noted a significant fall at press time and in case of Monero, the technical analysis charts pointed towards the coin’s prolonged constricted price action.
At press time, ETH was trading in the red, down 2.7 percent from the previous day. It was appraised at $2279, putting it back under the $2300 pricing range. It will be critical to monitor the price movement during the following several trading sessions.
On July 5, Ether’s buying power took a knock, as measured by the Relative Strength Index indicator, which dipped towards the median line, indicating a fall in the number of purchasers in the market.
Bollinger Bands opened up, indicating a short period of higher volatility, implying that ETH might see significant price movement.
As the green histograms formed immediately after the bullish crossing on July 3, the MACD indicator indicated a positive short term signal.
Chainlink was trading at $18.67 at press time, a 1.6 percent drop in a single day. As the number of purchasers in the market dropped, the bears gained power. The trading volume of LINK rose by 13.46 percent in the previous 24 hours.
As prices fell somewhat, Chaikin Money Flow showed a decrease in capital inflows versus outflows. At press time, Parabolic SAR indicated the start of a negative price trend, reflecting the decreasing prices in the previous 24 hours.
Despite a bullish crossing on July 3, the MACD indicator depicted a reduction in the market’s bullish signal as the diameters of green bars on the indicator decreased.
XMR, like the rest of the market, saw an upswing, although a temporary one. The currency was valued at $211, despite a 5% drop in worth over the last 24 hours. The currency has tried the $226 barrier level several times but has yet to break through it.
The above-mentioned declaration of consolidation was also confirmed by the Average Directional Index, which was found below the 20-mark, confirming that the currency had entered a lateral price movement zone.
At press time, Bollinger Bands stayed parallel with little divergence, suggesting that market action may not see too much volatility in the short term trading sessions. Finally, the fall in prices was depicted as the beginning of a downtrend with the dotted lines of the Parabolic SAR seen above the candlesticks.