143 Interactions, 2 Today
The bulk of altcoins followed the same price patterns as Bitcoin and Ethereum, albeit with minor losses. XRP plummeted 1.3 percent, drawing closer to the $1.06 price floor. Ethereum Classic was about to rest on its immediate support of $58.09, while EOS was trading at its $4.84 price floor after falling by 3.3 percent.
XRP has dropped 1.3 percent in the last 24 hours and is now trading at $1.11. XRP was observed consolidating on the four-hour chart; nevertheless, a drop below present levels would cause XRP to trade at $1.06. XRP’s technicals have remained bearish.
The Relative Strength Index showed a decrease in buying pressure as the indicator fell below the half-line. Chaikin Money Flow also fell below the midline, indicating a decrease in capital inflows.
The Awesome Oscillator produced mixed signals with green and red dotted signal bars, indicating a market consolidation phase. If XRP breaks out of its consolidation to the upside, the next resistance level will be $1.20, followed by $1.31.
Ethereum Classic (ETC)
ETC’s chart showed a declining trend, with a 2.2 percent drop in the previous day. It was trading at $61.60 and was about to come to a halt on the immediate price floor of $58.09. Failure to rest at $58.09 may cause prices to fall even further, to $50.11.
The market’s selling pressure increased, and the Relative Strength Index reflected this, remaining below the 50-mark. As capital inflows remained low, Chaikin Money Flow threatened to dip below the mid-line.
The tightening of the Bollinger Bands indicated that ETC was consolidating at the time, with the range remaining between $65.48 and $61.60.
On the flip side, ETC’s resistance levels lay at $65.48 and $70.93, toppling which, the coin could retest the $75.10 price level.
EOS, which is currently priced at $4.91, has lost 3.3 percent of its value in the last 24 hours. It was trading near the $4.84 immediate support level. If the price of EOS falls further, it may trade near $4.24.
EOS’s price behaviour was predicted to be negative by indicators.
As buying strength weakened, the Relative Strength Index fell to 40, putting it in bearish territory. Green bars on the MACD histograms have decreased in recent trading sessions, approaching a bearish crossover.
The Bollinger Bands converged significantly, implying that prices were constrained between $5.10 and $4.84.
If EOS regains its purchasing power, the price ceilings were $5.10, $5.48, and eventually $5.87.