After the dust settled on the broader market after yesterday’s bloodbath on the price charts, altcoins such as Tezos, Ethereum Classic, and YFI gave mixed signals as buyers and sellers contested for market control. A definitive change in market leaders BTC and ETH’s movements could dictate the near-term future of the aforementioned altcoins over the next few trading sessions.
Source: XTZ/USD, TradingView
After Tezos‘s recent losses, the bulls managed to defend the $2.18-support level and targeted the $2.43-mark. A move above this level could confirm a bullish trend but at press time, the resistance was keeping the price at bay. A bit of sideways movement between XTZ’s present channel can be expected in the near future before a broader market trend decides the course of the price.
The MACD’s red bars decreased in length and suggested that bearish momentum was shrinking across the market.
On the other hand, the Relative Strength Index pointed downwards and signaled a move towards the oversold zone. The market’s bulls could lose out on the $2.43-level if the index moves into the lower territory.
Ethereum Classic [ETC]
Source: ETC/USD, TradingView
Ethereum Classic’s losses were quelled at $8.34 and the price attempted to rise towards $11.68. However, the…