As Bitcoin and Ethereum posted a 2.2% and 2.8% drop in prices, respectively, altcoins like BNB, LTC, and LINK began to undo their chart gains. BNB declined after it tried to test the $ 402 resistance; LTC managed to float above its immediate support level of $ 161.19.
Following a 1.58% decrease in the last 24 hours, BNB the value stood at $ 386.63. After BNB rose to a multi-month high of $ 400, the asset noted a slight drop as BNB could aim to rest at the low price of $ 358.56. However, the technical data gave mixed signals for BNB.
The Relative Strength Index fell and touched 60 after being in the overvalued territory, despite the decline, it was still bullish. MACD approached a bearish crossover that indicated a break in BNB’s upward trajectory.
Market volatility was also on the rise according to Bollinger Bands. Conversely, if the bulls fail to give ground, BNB could retest the $ 402 resistance.
LTC fell a marginal 0.7% in the last 24 hours. A renewed downward pressure was detected in Awesome Oscillator, the result of which could push LTC towards its support line of $ 161.19.
The Relative Strength Index also reflected a decrease in bullish momentum, but it remained above 60. Bollinger Bands contracted slightly and indicated some sideways movement for LTC during the next few sessions.
In the event of a reversal, LTC would target a surge towards $ 180.87.
Link of the chain
LINK depreciated on its charts by 0.4% over the last 24 hours, it was priced at $ 25.56 at the time of writing. In case prices remain in the current region for the next trading sessions, LINK could test the $ 21.58 support level. However, the 4-hour chart of LINK the presence of bullish sentiments still emanated.
MACD approached a bearish crossover and could move below the midline. Also, although capital inflows were down compared to outflows, Chaikin Money Flow maintained a bullish outlook.
Awesome Oscillator, on the other hand, noticed red signal bars at press time. An uptrend for LINK could see prices hit the $ 26.94 high again for the second time.
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