The price movement of the cryptocurrency market over the past few days has been fairly repetitive despite rallies. Because of this, most of the altcoins have tried to break through their immediate resistance levels.
Bitcoin, for example, has increased marginally by 0.7% in the past 24 hours. While some altcoins saw buying momentum on the charts, others like MATIC struggled to hit new highs.
Bitcoin’s price movement has been tied to a range for the past few days, with BTC being in the green at press time. In fact, after June 21, the cryptocurrency largely hovered between the $ 30,800 support and the $ 34,000 resistance level until it slid past the latter in the past 24 hours.
In terms of price volatility, the Bollinger bands for the asset indicated that the coin would have limited price movement. The Relative Strength Index was above the neutral zone and watching a tiny uptrend – a finding that meant the buying pressure was greater than the selling pressure at the time of writing.
The Great oscillator gave mixed signals, as red signal bars were occasionally found between the dominant green bars. This reading suggested that despite some bearish trading sessions, the coin could be headed for recovery.
DOT’s charts projected a bullish outlook after successfully defending $ 16.20 levels for the past 72 hours. After the DOT fell to the $ 14 support level, its recovery has been slow but steady.
The MACDs The histogram confirmed this uptrend on the coin as the indicator highlighted the build-up of bullish momentum at the time of going to press. Capital inflows for the coin increased as the Chaikin money flow trended upwards and was far from the neutral zone.
Furthermore, the Bollinger bands indicated a divergence at the time of writing and confirmed that the price of the coin could rise. If the coin is seriously renewing its uptrend, the next likely resistance for the coin would be 19.00
MATIC’s prices did not close outside the range between the USD 1.03 support and the USD 1.22 resistance level for the past week. In fact, MATIC struggled to break the $ 1.15 resistance level. However, at press time, the coin was valued at just under $ 1.15 and should crypto rise again, the next resistance would be at $ 1.22.
However, MATIC’s recovery was not significant, which was achieved by the by Bollinger bands close something at the time of writing. However, there was an increase in capital inflows, as in the Chaikin money flow.
Finally, the dashed lines are the of Parabolic SAR were spotted below the candlesticks, marking an uptrend for the Alt.
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