Following a drop in BTC and ETH’s price action by 2.0% and 2.4%, respectively, industry altcoins struggled to hold on to their recent gains. EOS fell by 4.0%, BAT eyed its support line of $0.651 and lastly, VET traded close to its immediate support level of $0.113.
EOS fell by 4.0% as it reversed the gains seen over the last few days. The altcoin was priced at $4.92, at press time. It fell from its immediate resistance level of $5.36 yesterday as it slid to its $4.77 support line. The four-hour chart for the alt indicated that EOS had failed to sustain its bullish momentum.
Buying strength plummeted as the Relative Strength Index witnessed a steady fall from the 70-mark to 40. The MACD was well below the Signal line and the Awesome Oscillator displayed red signal bars below the half-line. Further support lines for EOS rested at $4.77 and $4.24.
On the upside, the immediate price ceiling lay at $5.36 where additional rallies can be expected.
Basic Attention Token [BAT]
BAT registered a 2.3% fall over the last 24 hours as it was valued at $0.709. The technicals for the alt pictured bearish signals and with the sustained downtrend, the immediate support lay at $0.651.
The Awesome Oscillator flashed red signal bars under the half-line, implying that bears had taken over the price action. Correspondingly, the MACD observed red histograms albeit declining, post a bearish crossover. The Chaikin Money Flow was seen below the midline in a bearish territory as it observed a sharp decline in capital inflows.
In case of a price reversal, the resistance line for BAT lay at $0.770 and then at $0.820.
VET dipped by 3.4% in 24 hours, with the alt valued at $0.118 at press time. The token was seen trading close to its $0.113 support level as technicals pointed to bearish momentum. If the downtrend is verified, the immediate support level lay at $0.113 and then at $0.103.
The Awesome Oscillator emanated red signal bars underneath the half-line. The MACD verified the aforementioned statement as it pictured red histograms following a bearish crossover.
The Bollinger Bands widened, however, some convergence was noted. This implied that market volatility could decline slightly over the upcoming trading sessions.
If the bulls find their way back with support from the broader crypto-market, VET could retest the $0.139 resistance line.