With Bitcoin and Ethereum showing slight signs of recovery, many altcoins moved north on their charts. Tezos rose 12.5% and broke its resistance level of $ 4.30. AAVE rebounded 3.8% and aimed to move above its one-week lows.
Solana’s price movement has been separated from broader market movements. The altcoin has seen a staggering 27.1% gain over the past 24 hours while making a new all-time high.
Tezos soared 12.5% in the past 24 hours to trade at $ 4.66. It has just passed its resistance at $ 4.30, suggesting the cryptocurrency has been trading back above its two-week low. It is noteworthy that the USD 4.30 level has also acted as a driving price point in the past few weeks.
If it continues to move higher, it could attempt to break the $ 5 mark and then trade near the $ 5.75 level. Tezos could hit its multi-month high of $ 6.05 again after breaking all of the above price caps.
Technical data indicated a recovery in the market. MACDs red histograms receded and showed the beginning of a green histogram. the Relative Strength Index was near the 40 mark after XTZ recovered from oversold.
Parabolic SAR, however, did not quickly reflect the recovery as the dotted lines were still above the candlesticks.
If the rebound could not be sustained, the support line was at $ 4.30 and then at $ 3.90.
AAVE rebounded 3.8% in the past 24 hours to trade at $ 342.34. It climbed above its resistance of $ 338.25. If it continues to rebound, the Alt could trade above its 1 week lows and seek to topple the $ 375.40 level. Additional resistance levels are at $ 414.15 and AAVE’s multi-month high of $ 441.27.
Great oscillator Flashing green signal bars because past trading sessions were in the green area. MACD was approaching a bullish divergence with receding red histograms. Purchasing power remained low as the Relative Strength Index was parked below the center line.
In the event that buying pressure does not resume in the next trading sessions, AAVE could fall through its immediate price floor of $ 338.25 and then hit the one-month low of $ 302.90 again.
Solana rebounded 27.1% and was priced at $ 207.07, which secured a new all-time high. If it moves further north, it could hit the psychological price cap of $ 210. On the 4-hour chart, the altcoin prices were positioned above the 20-SMA. This signaled that the momentum was with the buyers of the market.
Great oscillator was also at an all time high with high green signal bars. Relative Strength Index was above the 75 mark, indicating overbought conditions. MACD pictured green histograms.
A corrective pullback would mean that SOL could fall to the immediate support line of $ 163.74 and then to $ 125.95. If SOL is unable to hold its level, it could trade near its 1-week low of $ 93.20.