Ethereum exhibited a symmetrical triangle pattern (orange), a pattern that is generally a continuation pattern but a break to the downside can also occur.
Some further evidence for a bullish breakout was the hidden bullish divergence (white), where the price made a higher low as the momentum indicator (RSI) made a lower low.
There was a significant level of resistance at $450 that ETH needs to break above, in order to reach $480. Whether Bitcoin ascends past $16,000 in the coming days or faces a correction to the downside, would also have a large influence on ETH.
Tezos slipped beneath the $2.24 level in late September and has not been able to flip that level to support. The past week saw XTZ dip as far south as support at $1.8.
The Directional Movement Index (DMI) showed that XTZ was in a strong uptrend, as the ADX (yellow) moved above the 20 value while the +DI (blue) indicated the bullish nature of the trend.
Yet there remained a possibility that XTZ would be unable to rise past $2.24 once more, hence it would be a good level to take-profit or close long positions at.
The cyan arrow showed how trading volume was low even as the price spiked. Following this disagreement between price and volume, DASH dipped from $68.8 to $66.9.
Since then, the volume has been more convincing. The OBV also showed buying volume was on the rise.
Dash has been in a downtrend since mid-October, and last week’s surge indicated it could be a reversal in trend. A successful flip os resistance at $69.8, followed by a close above $72, is needed for DASH to maintain bullish momentum.
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