Solana broke past the $90 mark and displayed short-term bullish momentum as the alt headed towards the bearish order block at $95.
Loopring witnessed massive demand yesterday, and enormous buying volume had the price testing an influential resistance area at $1.23. Moreover, ApeCoin exhibits an optimistic market structure.
Solana formed a bearish order block at the $94.5 to $96 zone in late Feb and early March. The price climbed into the region again at this publication. Whether Solana will climb higher or encounter rejection at retracement plus another trial to explore these local peaks remain visible.
The Relative Strength Index sat near 59.85, and the hourly chart did not display a bearish momentum-price deviation. Nevertheless, the 4hr chart shows a potential divergence. That might see Solana retracing towards the $88 to $90 mark. The DMI displayed a massive upsurge in progress. Therefore any correction might present a ‘buy’ opportunity around the FIB retracement zones.
The past day had Loopring rejected around the $1.23 mark. Remember, $1.23 was the downtrend’s recent lower high on LRC’s higher timeframe. Therefore, the surge towards $1.23 can be a trial to overpower the long-term market structure, an attempt that is yet to succeed.
Southward actions would see a $0.92 zone serving as a demand territory. The level also houses a set of FIB retracements confluence. The Awesome Oscillator (AO) stayed beyond the zero-line while inching higher, whereas the Chaikin Monet Flow dropped beneath -0.05. Thus, a move to $0.92 appeared likely. Nevertheless, the massive buying volume during the latest surge showed bulls might make another attempt to conquer resistance.
As the chart highlighted, ApeCoin has displayed bullish signals within the past few days. APE broke the short-term resistance levels at $11 and $11.94 and converted them to demand areas. Moreover, the recent hours had the alt flipping $13 into support.
The Relative Strength Index displayed massive bullish strength, though a bearish divergence might emerge as the token pushes higher. Meanwhile, on-balance volume highlighted impressive buying volume.
The altcoin market might depend on BTC’s movements in the upcoming trading sessions.