Bitcoin managed to return to the $ 34,000 level. The altcoin market posted slight gains on its charts. Likewise, altcoins such as EOS, NEO. DOT were flashing green, at press time. Market buyers were mitigating some of the losses over the past 24 hours.
However, there was uncertainty in the market. Indeed, all three altcoins gave mixed signals and did not provide a definitive position for the future.
Panic sales over the past two days have taken EOS down by more than 30%. The bulls in the market eventually dampen the price to the support level of $ 2.49. However, EOS did come in contact with a solid support level at $ 2.76 and the price fell slightly again. The ongoing battle for control between buyers and sellers may continue. The price could trade in its current channel over the next few trading sessions.
The MACD showed that the downtrend was decreasing in the market as the red bars fell in length below the equilibrium mark. A bullish cross could push the price past its current resistance at $ 2.76.
On the other hand, the Chaikin Money Flow stabilizes below zero. It shows moderate capital inflows to EOS. Consolidation between the EOS news channel seemed likely, unless capital returned to cryptocurrency.
Polkadot’s downward spiral stopped at $ 7.52 as buyers provided some price relief. For now, its movement was rather hazy as the price traded between $ 7.52 and $ 8.81 and showed no signs of breaking out in any direction.
The price of the cryptocurrency was trading on the lower band of the Bollinger bands and walked over to the Signal line. However, the bullish rebound was not a certainty. Price could stay between the signal line and the lower band unless a wider market rally pushes DOT to the upper band.
The Stochastic RSI was a little more decisive in leading the way for DOT. The index envisioned a move into the overbought region. If the index reaches the upper territory, immediate resistance could be breached. The price could test the next high at $ 8.81.
NEO falls to its immediate support at $ 21.28 after failing above the $ 24.96 mark. In the short term, the momentum could be on sellers as indicators were largely bearish on NEO.
Therelative strength index plunged towards the neutral zone. The immediate support level could be in danger of being exceeded if the index pulls into the oversold zone in the near future.
The dotted RN markers Parabolic SAR were above the candlesticks and confirmed the bearish nature of the price.
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