Market weakness had been established at press time and thus altcoins also started to visualize moving south on their charts. Cardano fell 4.0%, although the price could see a rebound as the indicators remained slightly bullish.
Uniswap slumped a substantial 10.9% while trading near its multi-month low. Ultimately, the NEO sell-off sent it down 8.2%. This could lead to altcoin trading within the undervalued zone again.
Cardano was down on its chart by 4.0% and was trading at $ 2.19, at press time. ADA had just broken below its $ 2.20 support line, the next immediate low price for the coin was at $ 1.97 and then $ 1.83. The latter marked a multi-week low for the altcoin. However, its parameters remained somewhat bullish.
the Awesome oscillator flashing green signal bars. the Chaikin money flow it remained above the median line, as capital inflows were positive. the MACD green histograms also blinked. On the four-hour chart, price momentum was seen to be in line with buyers as the ADA price moved above the 20-SMA.
If the above bullish thesis held true, the ADA bullish momentum would meet resistance at its weekly high of $ 2.45 and then $ 2.60.
Uniswap plunged 10.9% in the last 24 hours and was priced at $ 19.06. Immediate support was at $ 18.89 for the altcoin. At the four-hour 20-SMA, UNI’s price was below. This meant that the price momentum had started to skew towards sellers in the market.
the Awesome oscillator flashing red signal bars. The MACD experienced a bearish crossover and showed a red histogram. Finally, the Relative Strength Index it remained above the oversold zone as it struggled not to fall into it.
If the buying pressure recovers, the price can also be a positive result. In this case, the immediate resistance for Uniswap would be at $ 21.93 and then $ 25.72.
NEO simply fell through its $ 40.70 support level as the altcoin was trading at $ 38.55. Faced with further devaluation of its price, the alt could trade near its multi-month low of $ 34.81.
The Awesome Oscillator showed red signal bars. The MACD also noticed a red histogram after a bearish crossover. Finally, the Relative Strength Index was below the 50 mark as it approached the entry into the oversold zone.
On the other hand, if NEO moves higher, the first resistance level would be at $ 44.09. Breaking down that level, the altcoin could trade near $ 49.45 and then $ 50.01.
This is a machine translation of our English version.