Over the last 24 hours, there has been a slow upward movement for most coins in the top twenty brackets. This follows a short bearish stint where the various coins lost by more than 3 percentage points over the weekend. In the last 24 hours, however, there has been an attempt at price consolidation. Support levels have maintained while resistance levels keep getting tested. Also, most indicators point to a Bull Run in the coming days. This is as seen below:
The largest digital coin by market capitalization figures started off the day trading at $3734.23 and is now at $3870. This bullish movement has led to a stabilized market, with the coin neither being oversold nor under bought as seen in the RSI (A). It sold a little over $7.6 Billion in the last 24 hours to establish a market capitalization of $67.9 Billion.
A Bull Run is likely in the near future seeing that all indicators point towards an upward outlook. The 30 day EMA (C) is sharply nose-diving towards the 9 day EMA (B) which is upward facing.
Over the last 24 hours, Ethereum has been making attempts at market correction after it dipped sharply as the week began. Support has maintained at around the $138 mark while resistance is at $144. This shows a strong price consolidation above the $140 mark.
The coin has gained 1.7%, coming from $135.3 yesterday to the current rate of $141.92. The upward movement has led to improved investor confidence in Ethereum with the RSI (A) headed up. This means there has been little sale offs as investors look to buy the dip.
The 30-day moving average (C) is descending towards the 9 day EMA (B) which signals an incoming bullish outlook. This is also supported by the RSI (A) which is upward facing.
Lisk has skyrocketed in the last 24 hours to register a staggering 33.3% upward movement. The previous support level, set at $1.2 has been tested and breached and is now at $1.26. Also, support has moved from $1.18 to the current $1.21.
Lisk’s stellar performance has had positive effects on investor sentiments, with the coin becoming increasingly undersold as seen in the RSI (A).
The 9 day EMA (B) has risen sharply and is about to cross above the 30 day EMA (C). The two also form a contracting triangular pattern which indicates a Bull Run in the coming days.