The altcoin market records mixed sessions even when Bitcoin hits its six-month high beyond $60,000. Tokens like FTM and MIOTA recorded a slight plummet, while BNB saw modest upticks on its price charts.
While writing this content, Binance Coin trades at $479 after a 2.71%. The altcoin has its immediate resistance at $481 as the support stood at $416. If BNB rises from its current levels to overcome $518, it will infer bulls’ dominance.
The RSI neared the 60-level, suggesting buying strength presence in the crypto space. If the Relative Strength Index moves further up towards 70-level, market players can rule out trend reversals. The Moving Average Convergence Divergence nears a bullish cross, and it did seem to approach the middle line. Also, the Awesome Oscillator displayed green sign bars, showing that the current market conditions favor buyers.
The 4Hr chart shows IOTA trading sideways with consolidation signs. It plunged by 2.02% to hit $1.29. The alt oscillated inside the $1.17 – $1.51 range over the previous week’s sessions. If IOTA gains momentum to break the lateral trading and surge, it will encounter the first resistance at $1.75, then $1.96. Trading beyond these areas might trigger IOATA to retest its multi-month high at $2.
Technical indicators suggest negative actions. RSI stays around the 40-level, suggesting that sellers can dominate the market. MACD neared a bearish cross as it signaled red bars under the middle line. If it extends its downward moves, bulls might encounter challenges in the days to come. Awesome Oscillator also displayed red bars, indicating ugly price movements. IOTA’s macro outlook implies bearishness.
Fantom dropped 3.3% to trade at $1.9 at this publication. FTM has consolidated inside a somewhat constricted range of $1.9 – $2.4 for some time. If Fantom dropped under $1.9, it would head towards the support at $1.3. As the altcoin attempts to regain momentum, FTM’s market favors sellers.
The Relative Strength Index is around the 40-level, eyeing a drop, indicating the selling pressure has eased in the past few hours. Meanwhile, the Awesome Oscillator and MACD displayed red bars, displaying a potential sell signal. That confirms dominant bearish actions.