Market leaders Bitcoin and Ethereum were yet to recover key levels post the recent sell-off, with BTC trading at around $41k and ETH at $3,100 at the time of writing. Altcoins like Dogecoin and Zilliqa revealed similar behaviors while their near-term technicals slightly tilted in favor of sellers.
On the other end of the spectrum, Bitcoin Cash saw an overbought RSI after breaking out of its descending channel.
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Since the bears provoked a test on its year-long floor at the $0.11-level, DOGE saw a consistent recovery. The alt saw a nearly 29.97% ROI over the last month while it reclaimed the vital $0.136-support.
The recent bearish rally pulled DOGE below its EMA ribbons while the sellers push for an advantage. As a result, the Supertrend changed its stance to red and displayed a bearish preference.
At press time, DOGE traded at $0.1393. The RSI hovered below the mid-line for the last few days but could not a close above the 50-mark. The MACD lines depicted a slight increase in buying force. But its lines were yet to jump above the zero-line to confirm a change in current momentum.
Bitcoin Cash (BCH)
As the bullish momentum saw a comeback, BCH sharply rose to reclaim the lost $356-mark. After a two-week consolidation period, the bears quickly propelled a down-channel (white) retracement.
BCH lost over 23% of its value between April 5 and 12. However, the two-month trendline support assisted the alt to revive from the $294-mark. While the buyers recovered their previous losses, the 20 EMA (red) headed north.
At press time, BCH traded at $344.2. The overbought RSI saw a pullback from near the 70-level. With the -DI line refusing to change its direction toward the north, the buyers have a short-term edge.
ZIL’s recovery halted at the $0.22-resistance, and the cryptocurrency has been in a slump ever since. Like most other alts, ZIL fared poorly after the broader market sell-off. Its price suffered a nearly 51.3% loss in the last two weeks.
This descent marked a falling wedge (white) on its 4-hour chart. Now, a close below the upper trendline of the wedge could propel a 200 EMA (green) retest.
At press time, ZIL traded at $0.1108. The CMF kept testing the 0.22-support while struggling to find an unconfined rally above the zero level. It needed to overturn its immediate trendline resistance to avoid reconfirming a bearish divergence with price.
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