Many of the market’s cryptocurrencies have been unable to sustain the gains of the past few days. For Ethereum, for example, it was a particularly mixed week of trading, in which ETH finally crossed the resistance level of $ 2300 before falling below it again.
However, as of press time, the coin had regained some of its lost strength. DOT bounced off its immediate support but was still struggling to break its USD 16.70 resistance and eventually LINK saw its trading volume spike in the past 24 hours.
With an hourly gain of 0.5%, Ether was trading at $ 2,326.40 at press time. The price movement for the digital asset was mixed as Ethereum saw a price turn after topping $ 2,300. At the time of writing, ETH was still above the $ 2300 mark, but it couldn’t break the $ 2481 resistance mark. At press time, the altcoin had risen 3% in 24 hours.
Despite some gains lately, the altcoins are MACD experienced a bearish crossover on July 5th. However, at the time of writing, a turnaround seemed inevitable. A tiny increase in capital inflows was also received from the Chaikin money flow.
Eventually converges Bollinger bands indicated that no steep price movements were expected and the price could potentially fluctuate around the same levels, at least during the short-term trading sessions.
DOT is up 3.5% in the past 24 hours. However, DOT continued to detect area-bound movement at the time of writing. It was trading in the range of $ 14.11 and $ 16.70. The digital asset temporarily bounced off the $ 14.11 mark, but failed to break the $ 16.70 ceiling during the week.
At press time, DOT was priced at $ 15.94 and if it breaks the $ 16.70 resistance level it could determine its further direction in the market. Due to the restricted price movement, buyers were given preference over sellers as the Relative Strength Index saw some advantages and crawled a little over the center line.
A bullish crossover was on the MACD Indicator and the appearance of a short-term bullish signal was visible. However, if the coin continues to experience limited price movement, the bullish momentum could wear off soon.
Bollinger bands stayed parallel, confirming that the asset has seen sideways price movement with less price volatility likely to occur as well.
Chain link [LINK]
Chainlink has also been moving sideways for some time. However, the altcoin is up 6.5% in the past 24 hours. Despite moving sideways, the digital asset hit a new weekly high of $ 19.68 at press time. The 4-hour trading chart indicated that the coin may be on the verge of a rebound as it soon breaks the $ 22 resistance level.
The Great oscillator confirmed the appearance of a bullish signal when green signal lines appeared on the indicator at the time of going to press. Interestingly, that is Average direction index still showed that LINK had a trendless price movement.
Bollinger bands remained parallel at the time of going to press with only slight deviations. Ergo, a certain amount of market volatility can be expected in later trading sessions.
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