Most of the major altcoins traded in the red last week. However, while the broader market showed mixed signals this week, some altcoins fared relatively better. Ethereum stayed above $ 2000 and moved much further up from its support level of $ 1753, Binance Coin was in an uptrend, and Chainlink remained largely sluggish today despite the market opening in green.
Ethereum was able to stay above the $ 2000 price level and was trading at $ 2118 at press time. It stayed just above its crucial $ 2,039 support system. Bullish momentum appeared possible as the altcoin rose 2.8% over the past 24 hours. A break above critical resistance at $ 2390 would be possible if the bulls push prices higher during the immediate trading sessions.
The bullish signal on MACD Indicator could drive price movement north after a bullish crossover on July 11th. The drastic convergence of the Bollinger bands meant that market volatility would stay on the downside, but price action could expect some sort of breakout soon.
The Average direction index Still indicated market weakness with sideways price action, but as prices rise, the reading may change in the future.
Binance Coin (BNB)
Binance Coin resumed its upward trend; the token was on its way to cross the $ 328 resistance mark when it changed hands at $ 327.06 at press time. The BNB has fluctuated between support and resistance levels of $ 270 and $ 328, respectively, for the past few weeks. In the event of a raise, it can easily exceed the $ 342 mark.
Relative Strength Index observed a downtrend at the time of writing, meaning that buying pressure has decreased versus selling pressure. Bollinger bands diverges, suggesting that market volatility may increase and prices may fluctuate slightly.
When prices rise, the Parabolic SAR noted an uptrend with the dotted lines below the candles.
Chain link (LINK)
Chainlink’s prices have been consolidating for some time, indicating a stagnant price movement. LINK was valued at $ 18.08 based on a price increase of 2.8% in the past 24 hours. With a market capitalization of $ 8.047 billion, the Alt ranked 15th on CoinGecko.
The buying pressure was less there Relative Strength Index stayed below the midline and also posted a small decline. Despite a bullish crossover, a short-term bullish signal was issued on the MACD The indicator may not be enough to increase prices and move the price movement of the coin outside of its constrained range. The measured value of the indicator confirms a trendless price action.
The Great oscillator showed bullish signals but at the time of writing these signal bars were starting to decline. In the event that decreasing pressure builds in the next trading sessions, the token may drop to the support level of $ 16.2.