Within the hours previous press time, Bitcoin climbed from $38.5k to $41.5k. This noticed the altcoin market climb as nicely. Solana and EOS have been simply two of the cash whose short-term market construction appeared to flip from bearish to bullish. VeChain managed to carry on to a assist stage and seemed to climb in direction of $0.051 on the charts.
EOS
Supply: EOS/USDT on TradingView
For EOS, the check of the $1.885-support stage over the previous couple of days noticed a bullish divergence develop on the hourly timeframe. The RSI made greater lows at the same time as the worth made decrease lows. This prompt that bearish momentum has been weakening. The trendline resistance (yellow) was damaged in current hours. Final week’s downtrend and its most up-to-date decrease excessive at $2.02 (inexperienced) was additionally damaged.
The $2.05 space (purple field) seemed to be flipped from provide to demand. Though the RSI continued to remain in overbought territory, the subsequent couple of days may see EOS make additional positive aspects. This bullish state of affairs can be invalidated upon a session shut beneath $2.02.
Solana (SOL)
Supply: SOL/USDT on TradingView
Solana was one other coin whose bearish development from earlier in March was damaged in current hours. $81.1 has been a long-term assist for SOL, and the costs have bounced from this stage as soon as once more. To the north, $93.4 is more likely to act as sturdy resistance.
The Superior Oscillator has been hovering across the zero line over the previous 24 hours. Very just lately, it jumped above the zero line to flash upward momentum. The OBV additionally ticked greater in current hours. Even so, at press time, it was but to interrupt above its earlier native excessive (orange).
VeChain (VET)
Supply: VET/USDT on TradingView
The Fibonacci retracement ranges drawn for VET’s bounce in late February confirmed that the $0.046-level was the 61.8% retracement stage for that transfer. VET discovered assist at $0.046 and climbed greater. The $0.049 and $0.05-levels are vital within the close to time period for VET bulls to seize, and a transfer previous $0.051 would counsel that VET could also be heading in direction of its $0.057 native highs.
