Several leading cryptocurrencies have seen a slump recently. Bitcoin has fallen 0.8% in the last 24 hours, and Ethereum also lost 1.6% in value over the same period.
At press time, Tezos’ market cap was down 5.10% due to the daily decline. Ethereum Classic has seen a significant decrease in buying pressure since the last week of June. The downtrend in DASH price could fall further below the USD 110 support level.
Tezos price action has seen a downward movement in the past few days. With results mostly declining, the coin could fall below its price level of $ 2.44 at press time. At the time, the alt was trading in the green, but it was hovering very close to the closest support level of $ 2.30.
If the decline continues, XTZ could rest at or even below the USD 2.30 support level. With an XTZ price of $ 2.44 at the time of writing, the coin has seen an 11.5% decline over the past week.
The dotted lines of the Parabolic SAR had been aligned above the candlesticks since July 13th and at the time of going to press the indicator was showing the same value due to the further price decline Market strength decreased with price, and the Average direction index was slightly above the 20 mark and showed a weak trend.
Conversely, capital inflows shot up slightly, as can be seen in the picture Chaikin money flow. This meant that bUsers entered the market as crypto explored lower prices last week.
Ethereum classic [ETC]
ETC prices have fallen significantly since June 28, with almost negligible signs of recovery. The demand for the token has also disappeared since then. The altcoin’s underperformance caused its market cap to drop 4.07% at press time.
The asset was down 18.2% for the past week, with a 4.0% daily loss at the time of writing. The price was at $ 41.00 and if it continued its free fall the next level of support would be at $ 36.00.
Withered demand from ETC forced the coin to touch the oversold zone a couple of times this month. At the time of writing, buyers were even smaller compared to sellers. However, the RSI was just above the oversold zone. Likewise the Chaikin money flow indicated lower capital inflows.
The MACDs Histograms showed a sustained downward trend in the charts.
The technical charts for DASH highlighted the downtrend in price, and at the time of going to press the coin was valued at $ 116.335. It could go down to reach the USD 110 support level soon if the price of the Alt does not recover in the next trading sessions.
The asset rose a meager 0.5% during the intraday trading session. Only when the price returns to an uptrend and hits the $ 129 mark will the coin rebound.
The Bollinger bands pictured a contraction at press time, suggesting low volatility. Accordingly, the Squeeze momentum indicator also pictured black crosses on the center line; a reading that implied the market had just gotten into a corner and was preparing for a breakout. The appearance of the red bars also meant that DASH had made further small losses.
Finally, that Relative Strength Index saw an upward trend suggesting an increase in buying pressure. However, the sellers remained dominant.