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 red and fell by 2.7% over the previous day. It was valued at $2279, which meant that it was back under the $2300 price level again. Over the next few trading sessions, it’s crucial to watch if the price descends further.
Ether’s buying strength took a hit on July 5 as registered on Relative Strength Index indicator, which fell toward the median line, marking a decreased number of buyers in the market.
Bollinger Bands opened up hinting at a short term period of increased volatility, suggesting that ETH could experience a steep price action.
After the bullish crossover on July 3, the MACD indicator pointed to a bullish short term signal as the green histograms appeared right after the bullish crossover.
Chainlink traded at $18.67 at press time with a loss of 1.6% over a period of one day. The bears in the market found strength as the number of buyers in the decreased. LINK’s trading volume increased by 13.46% over the last 24 hours.
As prices noted a slight dip, Chaikin Money Flow recorded a fall in capital inflows over outflows. Reflecting the descending prices in the last 24 hours, Parabolic SAR also marked an onset of a downward price trend at press time.
Despite a bullish crossover on July 3, MACD indicator pictured a decline of bullish signal in the market as the sizes of green bars declined on the indicator.
Following broader market patterns, XMR also registered an uptrend, albeit briefly. Marked by a 5% decline in valuation over the past 24 hours, the coin was priced at $211. The coin tested the $226 resistance level a couple of times, but hasn’t been able to rise above it.
Average Directional Index also affirmed the above statement of consolidation as the indicator was spotted below the 20-mark, confirming that the coin had entered a lateral price movement zone.
Bollinger Bands remained parallel with slight hints of divergence at press time, suggesting that price action may not see too much volatility over 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.
Where to Invest?
Subscribe to our newsletter