A good number of altcoins on the market experienced bearish momentum. The likes of Cardano, Synthetix, and VeChain noticed a decline on their respective charts.
Cardano fell 2.5% and expected to rest near its $ 2.49 support zone. Synthetix traded just above its $ 12.49 support level and threatened to drop below it during the immediate trading sessions. VeChain also experienced losses as it consolidated and moved south towards its one-week low of $ 0.124.
ADA noted a downward movement as it posted a 2.5% decline in the last 24 hours. It was trading at $ 2.64 and gradually moving towards its closest support zone of $ 2.49. Additional support lines were expected at $ 1.96, which would be the ADA’s nearly three-week low price point, beyond which the alternate value could rest at $ 1.39.
ADA remained bearish on the 4-hour chart. Awesome oscillator shows red signal bars. Relative Strength Index it remained within the oversold zone after almost two months.
the MACD The histogram observes red bars, publishes a bearish crossover. Should the buying force find its way back to the market, the coin could retest the $ 3.04 price line.
SNX dropped substantially in the last 24 hours and was trading at $ 12.50. It was just above its immediate low of $ 12.49. A drop from $ 12.49 could see SNX trade near its weekly low of $ 11.07. An additional support line was expected at $ 8.87.
Relative Strength Index it fell sharply from the bullish zone to below the midline as the buying force waned. The indicator fell below the mean line for the first time this month. MACD witnessed a bearish crossover and displayed a red bar on its histogram.
Bollinger Bands remained divergent, indicating possibilities for greater market volatility during the next trading sessions. In the event of a rally, SNX could trade near the $ 14.37 resistance mark, which is also the four-month highest price level for the token.
VETERINARY fell 0.7% in the last 24 hours and was seen at a price of $ 0.138. It was unable to sustain above the low price of $ 0.139. A decline below its current price level would mean that VET could trade near its one-week low of $ 0.124.
The technical parameters pointed towards the price movement of bears in the market. Relative Strength Index it was in the bearish zone slightly below the 40 mark, a level it last touched a week ago. This meant that the market experienced a dearth of buying pressure.
MACD it underwent a bearish crossover and showed red bars on its histogram. Capital inflows also decreased and the Chaikin money flow it was placed below its half line. On the other hand, the immediate resistance of VET stood at $ 0.151.
This is a machine translation of our English version.
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