After a mere glimpse of recovery, the bears ensured to forbid a bull consolidation. The market, thus, wavered into its inherent state of buoyancy.
Altcoins like Ethereum, Ethereum Classic and Dogecoin touched their weekly lows on 18 November with a high sell-off. Contrarily, bulls failed to negate the selling pressure for a sustained timeframe.
ETH steadily inclined between the up-channel until mid-November. It performed well by registering over 61% ROI from 22 September to 10 November. Consequently, it touched its ATH on 10 November at $4,868. Then, as the bulls showed slowing signs, the bears capitalized by triggering an over 18% downturn. As a result, the price action touched its three-week low on 18 November after breaching the northern trend.
However, ETH bulls displayed resilience over the past three days as the price noted a 9.07% incline.
The near-term technical indicators flashed mixed signs. At press time, the alt traded at $4,344.21. The RSI upturned after the recent bullish move and swayed in favor of the bulls. Although the DMI preferred the bears, MACD and AO depicted increasing bullish influence.
After correlating with market tendencies, DOGE saw a strong upturn in October. Since late September, the meme coin rallied by over 72% to touch its 11-week high on 28 October. After which, the bears ensured to trigger a sell-off with high trading volumes. Thus, the price reversed in a descending triangle after losing over one-third of its value from 28 October to 18 November. As a result, it touched its six-week low on 18 November.
After which, bulls provoked an upturn but could not breach $0.2320 (immediate resistance).
At press time, DOGE traded at $0.2284 after noting a 1.5% loss on its daily chart. The RSI, after a slight recovery, pointed toward the south. While DMI preferred the bears, MACD and AO hinted at their decreasing power.
Ethereum Classic (ETC)
Since 27 October, ETC bulls were on a rally as the price grew by 39.6% to poke its ten-week high on 9 November.
However, the bulls lost their edge as the price declined in a down channel since then. Price action downturned by 28.67% to touch its three-week low on 18 November. Now, the bulls retaliated as the price saw a 7% increase over the past three days. The bulls will need increased momentum to breach the $51.5-mark (immediate resistance).
At press time, ETC traded at $50.21. The RSI stood below the midline and slackened in favor of bears. While DMI preferred the bears, MACD and AO hinted at their decreasing power. However, the revival was on low trading volumes, signaling its weak nature.