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Polkadot, Chainlink, and Theta altcoin markets were also heavily impacted by the uncertainty on Sunday. As the coins returned, the patterns for several alts shifted.
Polkadot market reached a high on April 17th, when its price reached $48.55. However, the coin experienced a correction after this. As a result of the DOT market’s unexpected instability, this correction accelerated, and the stock fell as low as $32.
The price has been rising, but the market’s general direction has shifted to the downside. At the time of publication, the price had broken through support at $36.13 and was down. Meanwhile, the relative strength index showed that the digital asset was on the verge of being oversold.
The Chainlink market has not been oblivious to market uncertainty: the following map shows spikes of volatility. However, the unexpected price drop moved Connection from $42 to $29. Given Chainlink’s poor association with Bitcoin [BTC], the commodity regained its footing and was trading at $38.
Despite the fact that the stock has rejected resistance at $41, the market has taken a positive turn as a result of its rebound. Volatility was once again decreasing, and the signal line was gradually moving under the price bars. However, there is already selling pressure in the industry.
Theta fell below its highest support level of $11.69 on Sunday, and after many attempts, it was unable to rise above this level. Theta was priced at $11.38 at the time of publication, suggesting an increase in sell-offs.
Bollinger Bands were indicating that the market was becoming more volatile, although the signal line was still going beyond the price bars. This meant that the market was in a downward spiral. While MACD indicated a bullish market, the MACD line was about to cross below the signal line, indicating that the bulls were leaving the market. Theta’s new trend has shifted bearish and will continue until the sell-offs cease.