Tezos, Ethereum Classic, NEAR Protocol Price Analysis: 26 April

Bitcoin dipped briefly beneath the $39k mark however was fast to reverse on Monday and the trapped brief positions fueled its bounce previous $40k. This meant that the altcoin market additionally noticed some momentary respite, though the near-term outlook of many cash remained bearish. Tezos and Ethereum Classic appeared to have a powerful zone of resistance to the north.

Tezos (XTZ)

The Volume Profile Visible Range device confirmed that the previous two weeks of buying and selling have been principally concentrated inside the $3.02-$3.24 space. the place the Value Area Lows and Value Area Highs lie respectively. At the identical time, the OBV was additionally transferring sideways, to point that neither consumers nor sellers have been dominant total. The Point of Control was at $3.15, and XTZ was buying and selling beneath all of those vital ranges.

Even although the RSI climbed above impartial 50 to sign a shift in momentum away from the bearish aspect, the market construction remained bearish. The OBV was additionally plumbing new depths. This recommended that, until XTZ can climb above $3.05, extra draw back stays probably.

Ethereum Classic (ETC)

Source: ETC/USDT on TradingView

Based on the transfer from $26.52 to $52.7 in March, a set of Fibonacci retracement ranges (yellow) was plotted. They confirmed that, regardless of the robust downtrend of ETC up to now two weeks, a bounce may very well be witnessed from the $32-$34 space.

In what seems to be a hunt for liquidity, ETC dipped beneath $32 to set off brief entries, earlier than climbing again above the $33.5 degree to lure the bears. To again this speculation of a shift in momentum, the RSI stood at 58 whereas the MACD shaped a purchase sign.

Caution remains to be advisable, because the $34.3 and $35 ranges are robust resistances that would rebuff the bulls.

NEAR Protocol (NEAR)

Source: NEAR/USDT on TradingView

NEAR shaped a variety from $15.1 to $17.55, however up to now couple of days, the worth fell decisively beneath the $15 zone. Moreover, this vary was principally a longer-term band of resistance for the worth primarily based on Fibonacci retracement ranges (yellow). These ranges have been plotted primarily based on NEAR’s down transfer from $20.6 to $7.38 in January.

Hence, the longer-term outlook has shifted bearish as NEAR confronted rejection on the $17 space, and the short-term bias can be bearish primarily based on simply the worth motion. However, the hourly indicators mirrored some bullishness from the bounce from $13.5.

The Awesome Oscillator climbed above the zero line, whereas the CMF additionally confirmed that there was an excellent quantity of shopping for stress behind NEAR.