While the bulls tried to revive, bears did not fail to pose hurdles as prices struggled to achieve a breakthrough.
After an onerous November for the buyers, altcoins like Solana, Tezos and EOS continue to display a bearish outlook while hinting at a near-term increasing bullish force.
SOL rallied by over 85% from 12 October to 6 November, 2021. With this upturn, it struck its ATH on 6 November. Since then, the withdrawal phase kicked in as the bears visibly took over.
During the downfall, SOL lost over one-fourth of its value until it touched its three-week low on 18 November. After breaching the patterned uptrend, bears ensured to keep the current price below its 4-hour 50 SMA (white), 200 SMA (red). However, the price managed to stay above its 20-SMA (yellow). The reason for that is the 10.57% three-day ROI triggered by the bulls since 18 November. This rally, however, occurred on low trading volumes and thus depicting a weak bullish move.
At press time, SOL traded at $212.9675. The RSI revived and exhibited neutral sentiments by wavering around the half-line. Although the DMI preferred the bears, AO and MACD hinted at their near-term decreasing power. Nevertheless, the ADX displayed a weak directional trend.
XTZ was on a constant downfall after striking its ATH on 4 October. The price diligently withdrew as it moved along the parallel lines…