Solana, ApeCoin, EOS Price Analysis: 26 April

The market sprung from its immediate lows after the near-term technicals on the 4-hour timeframe of many alts entered the oversold mark. As a result, Solana and EOS saw breaks from their reversal patterns.

Also, ApeCoin got enough thurst to test the $19.6-mark while continuing its rising wedge momentum. Now, the bulls needed strong volumes to prevent an incoming bearish counter. 

Solana (SOL)

Source: TradingView, SOL/USD

SOL saw a nearly 16.37% retracement between 20-25 April while descending in a down-channel (yellow) on its 4-hour chart. The rising wedge setup preceded this decline while the sellers halted the buying spree at the $109.4-mark.

Furthermore, the three-week trendline resistance (white, dashed) put additional pressure on buyers before they dwindled and the price fell below the Point of Control (red). Now, the recent down-channel breakout could see some resistance in the $102-zone before a trend commital move.

At press time, SOL was trading at $101.175. The alt’s RSI geared up from the oversold region and saw a nearly 22-point surge in the last 24 hours. Thus, finding a position above the midline whilst favoring the bulls. But a price reversal from the POC could affirm a bearish divergence with the index.

ApeCoin (APE)

Source: TradingView, APE/USDT

Since rebounding from the $10.98-floor, APE bulls have been on a quest to mark fresher highs while redefining the oscillation bounds for the alt. This bullish resurgence rode along the confines of a rising wedge on the 4-hour timeframe.

After an exceptional 77.86% ROI from the $11 lows, APE peaked towards its five-week-high near $19.6 in just the last week. With no surprise, the price approached the upper band on the 

At press time, APE traded at $17.9087. The Relative Strength Index downgraded after an expected reversal from the overbought mark. An extended decline from here could continue to find support near the 50-55 range. 

EOS

Source: TradingView, EOS/USDT

EOS saw a falling wedge (yellow) decline of about 23% until the bulls displayed strong rejection of lower prices at the $2.2-mark. This fall was triggered after the sellers continued to build up pressure at the $2.8-mark.

Now, the buyers would aim to reclaim the $2.4-mark while the bears continue to pose obstruction at the 20 EMA (red). With the 20EMA still below the 50/200 EMA, the sellers visibly had a near-term edge.

At press time, EOS traded at $2.359. The slightly bearish RSI failed to break above its equilibrium, while the 42-support seemed to hold near-term pullbacks. However, with the CMF jumping above the zero-mark, buyers would likely not dwindle at the immediate price support.