With Bitcoin and Ethereum rising on their respective charts, some altcoins remained unaffected as they continued to register losses over the last 24 hours. Chainlink and Sushiswap however, recorded considerable gains. Chainlink went up by 8.8% and was moving towards its one-week high and Sushiswap flashed a double-digit gain with chances of increased price volatility.
Ethereum Classic (ETC)
Ethereum Classic was trading sideways with a loss of 1.5% over the last 24 hours. The coin was trading at $47.23 and its nearest support line stood at $47.13. The other price floors stood at a multi-month low at $43.49 and $40.32. Although the coin was trading at a loss over the last day, indicators point towards a potential price reversal in the market.
MACD flashed green bars on its histogram. Awesome Oscillator depicted green signal bars. The Relative Strength Index was below the half-line which indicated that buying strength still had to recover.
In case, buying strength finds a way back to the market, chances are that Ethereum Classic would push and retest the resistance mark of $51.43. Additional price levels stood at $59.53 and then at $59.53.
Chainlink surged 8.8% over the last 24 hours and was trading at $24.32. Prices could retest its one-week high price mark over the upcoming trading sessions. Resistance levels stood at $27.78 and then at $30.03. Indicators were also positive owing to the recovery that Chainlink displayed over the last 24 hours.
Buying pressure was finally inside the bullish territory, over the half-line. MACD flashed green bars on its histogram. Capital inflows were also positive as the Chaikin Money Flow was seen positioned above the mid-line.
Buying pressure, although was parked above the half-line, could fall below the same if prices decreased. In the case of which, the support line for the coin rested at $22.50 and $20.81. Dipping below which, LINK could trade near its multi-week low price mark.
Sushiswap displayed opposite price movement, away from the direction that other altcoins were trading in. The altcoin secured a double-digit gain of 12.5% over the last 24 hours and was trading at $10.91. Over the next trading sessions, the altcoin could find itself trading near the resistance of $12.58 and then at $13.36. Parameters for the coin, as a result, displayed positive price action.
The Relative Strength Index was above the half-line as buying pressure had strengthened over the last day. MACD displayed tall green bars on its histogram, after a bullish crossover. Bollinger Bands were widening as price volatility could be expected over the next trading sessions.
A corrective pullback can cause the altcoin to dip and find support on the $10.11 level first. Additional support lines for SUSHI awaited the alt at $9.24 and $8.47.
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