The broader market again displayed weakness, soon after which altcoins depicted southbound movements on their charts. Ethereum Classic was moving towards its closest support mark while Solana was expecting to find support at $107.79. Lastly, Tron broke below its multi-month support line after noting a fresh decline of 5.9% over the last 24 hours.
Ethereum Classic (ETC)
ETC/USD, TradingView
Ethereum Classic lost 3.6% of its value over the last 24 hours and was trading at $46.94. Its nearest support line for the coin stood at $43.32. The four-hour 20-SMA was seen above the candlestick, indicating that price momentum belonged with sellers.
The Relative Strength Index was below the half-line indicating that buying pressure was low. MACD gave off red bars on its histogram. Chaikin Money Flow remained above the half-line, threatening to fall beneath it as capital inflows experienced a decline.
On the upside, Ethereum Classic could encounter resistance at $47.13 and then at $51.43. Other additional price ceilings were at $59.53 and $65.55 respectively.
Solana (SOL)
SOL/USD, TradingView
Solana depreciated 6.9% over the last 24 hours and was valued at $135.65. With a continued fall in price, SOL could expect to find support at $107.79 and then at $79.07 respectively. Key technicals point towards bearish price action in the market.
The Relative Strength Index was seen below the half-line in an indication that buying strength was yet to become positive. Red bars stood on the MACD histogram. Awesome Oscillator displayed red signal bars.
A turnaround in prices would mean that SOL could test the $140.91 resistance mark. Breaching above the same, other price marks awaited the coin at $163.07 and $179.02.
Tron (TRX)
TRX/USD, TradingView
Tron was available at $0.0884 after it broke below its long-standing support of $0.0888. The altcoin had declined by 5.9% over the last 24 hours. This decline in price made TRX position itself below the four-hour 20-SMA which suggested the price momentum was inclined towards sellers in the market.
The Relative Strength Index was below the half-line suggesting that sellers preceded the market. Awesome Oscillator showed red signal bars and MACD also depicted red bars on its histogram.
On the upside, price ceilings awaited the coin at $0.0958 and $0.1062 respectively.
