Though Ethereum and Bitcoin displayed bullish progress in the past 24 hours, some alternative tokens disassociated their movements. Alts such as ETC, VET, and XRP recorded sideways actions and printed mixed gestures on their respective indicators.
While writing this article, XRP dropped 1.46% over the past 24 hours to stand near $1.12. XRP maintained consolidation actions inside a constricted range from $1 to $1.2 for some time. The alt has the immediate support at $1 as its resistance can emerge around the $1.2 area. Technical indicators depicted bearish signs.
The Relative Strength Index steadily moves lower, mimicking the altcoin’s price reactions. It stays beyond the midline but far from the 70-level. For that reason, market players can hardly notice trend reversal signs. On the other hand, the Moving Average Convergence Divergence displayed red histograms and might record a bearish cross soon. Also, the Awesome Oscillator highlighted a red gesture, suggesting that the market somewhat favors sellers.
Ethereum Classic (ETC) traded at $54.01 and sustained a 1.63% decrease while writing this content. The alt’s price appears to consolidate around the range at $51 – $54. ETC has an overhead resistance at $59.86 as the support zone hovers around $49.69technical indicators suggested selling momentum dominating the market.
The RSI stayed around the 50-level, showing higher chances of dropping to the oversold region, hinting at sellers’ presence. Also, the MACD retained bearish gestures with red sign bars, suggesting that sellers might claim their place in the coming sessions. Moreover, the Awesome Oscillator depicted red lines, confirming a possible downswing.
VET experienced a 4.78% plunge in the last 24 hours. However, the alt trades at a 2.3% high in the past week. While publishing these updates, it traded at $0.115. It has its immediate resistance at $0.123 as its support is around the $0.100 mark. Technical indicators did not highlight clear directional bias.
The RSI maintained beyond the mid-line and indicated bulls’ control. However, the Awesome Oscillator and the MACD appear to favor selling activities. The latter seemed close to a bearish cross while the former targeted a drop under the mid-line.