The cryptocurrency market has been consolidated mainly through minor losses and gains over the past 24 hours. Some coins like Chainlink and NEO appreciated slightly while Cosmos was down on its charts.
LINK showed a resurgence in positive buying pressure and NEO saw a 2% increase with opportunities to trade near its immediate price cap. ATOM was bearish as purchasing power struggled to penetrate the bullish zone.
Chain link (LINK)
Chainlink was trading at $ 27.09 and was trading sideways. It has gained 1.1% in the past 24 hours. Purchasing power rebounded slightly, suggesting that prices could rise northward. The overhead resistance was at $ 27.78 and then at $ 30.06. Technical indicators suggested mixed signals.
the Relative Strength Index trended upwards but buying pressures remained in the bullish territory. the Great oscillator red flashing signal bars. the Bollinger bands are in a narrow range, suggesting lower price volatility.
If LINK continues to consolidate during the next trading session, the price of the altcoin could fall. The support line for the coin was at $ 24.45 and then at the token’s one-week low of $ 22.50. The other floor price was $ 20.81.
NEO is up 2% in the past 24 hours to trade at $ 44.28. The altcoin should try to trade near the resistance level of $ 49.45, above which it could move at $ 54.01 and then $ 59.22. The latter marked a multi-week high for the coin. On the 4-hour chart, the altcoin was above that 20 SMA line which meant that the price momentum was with the buyers.
the Relative Strength Index noticed an uptrend and approached the 60 mark indicating strong buying pressure. the Great oscillator showed a green signal bar indicating that the last trading session was in the green. Chaikin money flow was also seen above the half-line as capital inflows remained positive.
On the flip side, the immediate support line for the coin was $ 44.09. Other price support levels for the coin were at $ 40.70 and $ 34.81, respectively.
Cosmos has been moving at the current price level for 24 hours. It was available for $ 37.99. Indicators showed that buying pressure had fizzled out and the bears had taken over. The next support line for the coin was at $ 35.01 and then at $ 32.06.
The other price floor was $ 27.07. The four hours 20 SMA line was also above the candlesticks, indicating that price momentum was with the sellers.
the Relative Strength Index struggled to move across the half-line. the Great oscillator red signal bars displayed. the MACD was also bearish with red bars in the histogram.
In a reverse scenario, price resistance for ATOM was $ 40.93 and $ 44.41, respectively.