Altcoins have been performing well and have also been outperforming Bitcoin for the past several months. The market corrections sustained by the coins along the way attracted profit booking for short-term traders.
As the uptrend gained traction, Ethereum crossed the crucial resistance point and was trading at $402.88 after surging by 2.47% over the last 24-hours. Its market cap stood at $45.24 billion while the 24-hour trading volume was found to be at $10.29 billion.
However, despite the upward push above the key level, technicals indicated a bearish picture for the coin as the signal line dominated both Klinger Oscillator as well as MACD. If the bears continue pressure ETH/USD, a drop to $379 zone is possible
After a rise of 1.95% over the past day, IOTA‘s price was pushed to $0.389 as it registered a market cap of $1.083 billion and a trading volume of $17.87 million over the last 24-hours.
The Chaikin Money Flow struggled to hold above the bullish territory. On the other hand, Awesome Oscillator is yet to demonstrate a shift in momentum as bearish presence continued to severely resist IOTA from an upside break to $0.422-level.
A failure to retain this level could drive the coin to retest support at $0.307-level.
Monero [XMR] has been trading close to yearly highs as it continued to maintain a steady upward price movement.
At the time of writing, XMR was valued at $93.42 after it rose to 2.31% over the last 24-hours. The privacy-centric coin recorded a market cap of $1.65 billion and a 24-hour trading volume of $83.39 million.
The dotted markers of Parabolic SAR were below the price candles which was indicative of the fact that Monero bulls have continued to defend the support at $87.10. The RSI just above the 50-median line indicated the sentiment of buying pressure among the traders in the XMR market. If this trend continues, a breakout above the $102-level could be in the offing.