The overall cryptocurrency market value has increased in the past 24 hours. Alternative coins such as Avalanche, Chainlink, and Ethereum Classic seem to follow the price action by the market leader, Bitcoin.
Ethereum Classic
Ethereum Classic (ETC) saw a 6.72% in the previous 24 hours. While writing these lines, the alt trades at $55.88. For now, ETC has its support at $45.94, while its overhead resistance is near $60.61. Vital indicators suggest bullishness.
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The Relative Strength Index (RSI) stayed near the 67-level, depicting buying momentum. Meanwhile, if this indicator moves towards the 70-level, Ethereum Classic will sustain a trend reversal. On the other side, the MACD neared a bullish cross with green bars.
The Awesome Oscillator showed green gestures, favoring buyers, thus supporting bullish movements. Meanwhile, the Volume Oscillator highlighted reduced trading volume. That signifies possible trend reversals in the short term.
Chainlink
LINK surged 5.18% in one day. While publishing this content, the alternative coin trades around the closest obstacle located at $27.94. Meanwhile, its support line is at $23.88.
The Relative Strength Index stood around the 61-level, suggesting buyers’ dominance at the moment. The green sign bars by the Awesome Oscillator and the MACD further define this narrative. Nevertheless, the Volume Oscillator suggested decreasing trading volumes, confirming a possible fading momentum by bulls.
Avalanche
AVAX increased by 8.34% over the past day. The alternative coin trades at $62.03 after cracking the immediate $62.41 resistance in the past 24 hours. Meanwhile, crucial indicators show massive buying strength.
The Awesome Oscillator displayed green sign bars as it stayed beyond the zero (0) line. That confirms inclining bulls’ momentum. The MACD neared a bullish cross, favoring buyers. If this indicator sees more progress towards the bullish region, it will show that sellers have challenges in the days to come.
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The Relative Strength Index stayed inside the overbought area, suggesting a high buying momentum. It also showed that AVAX might witness trend reversal in the coming sessions. Meanwhile, the Volume Oscillator appeared to move southward, confirming a further possible trading volume decline.
Stay tuned for more financial market updates.
