Ethereum, Solana, Chainlink Price Analysis: 04 January

Ethereum, Solana, Chainlink Price Analysis: 04 January


While the wider market had a hard time to increase a persuading rally to change the bearish pattern, Solana continued to reveal range-bound oscillation propensities. Ethereum, nevertheless, crossed the $3,766-mark however still might not collect adequate volumes.

On the Other hand, Chainlink’s near-term SMA crossed its 50-200 SMA, showing a strong bullish vitality.

Ethereum (ETH)

TradingView, ETH/USD

After a down-channel breakout, ETH saw a healing that crossed the $3,766-support and checked the $3,836-level resistance 3 times in the last 2 days. The king alt formed a rising channel (white) on its 4-hour chart.

Now instant assistance stood at the half-line of the up-channel that accompanied the 20-SMA (red). However, the Volume Oscillator was still in a sag, showing a weak bullish movement.

At press time, the alt traded at $3,834.5. After poking its record low of 18.78, the RSI saw greater troughs and peaks. It lastly sustained a close above the half-line. While the DMI illustrated a small bullish choice, the ADX showed a weak directional pattern for the alt.

Solana (SOL)

TradingView, SOL/USD

Over the previous day, the alt saw a 5% obstacle, however the bulls fasted to recover the 61.8% Fibonacci assistance.

SOL continued its low volatility stage by discovering an oscillation variety in between the $176 and $167-mark. Thus, the Squeeze Momentum Indicator still flashed black dots.

At press time, the alt traded at 171.3875. The RSI was at the 46-mark after discovering a strong resistance near the half-line. Also, the DMI revealed a bearish choice, however the ADX showed a weak directional pattern.

Chainlink (LINK)

TradingView, LINK/USDT

The rate action oscillated in a down-channel (yellow) and checked the assistance at $17.7 almost 7 times prior to forming a double bottom.

Over the previous week, the alt decreased in a falling wedge (green) while the bulls made sure the $19.3-support. The current breakout moved a 25.13% ROI in the last 4 days. With this upturn, LINK’s 20 SMA crossed its 50-200 SMA meaning a one-sided-bullish momentum. Now, the instant resistance stood at the $24.46-level.

At press time, the alt traded at $24.02. The RSI remained in a clear uptrend as it approached the overbought area. Also, the matching volumes and OBV saw a spike, showing a healthy breakout.


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