Chainlink surged past $24 but displayed bearish divergence, which could see LINK pullback to around $22. Monero struggled to recover from the past few weeks’ selling pressure while Ethereum Classic rose toward the $8 level of resistance once more.
Chainlink [LINK]
Source: LINK/USD on TradingView
LINK breached its previous ATH at $20 two weeks ago to surge to $22.3 and required multiple attempts to climb past the highlighted region of supply.
The region from $21.4 to $22.3 was flipped to one of demand over the past few days and can be expected to halt the bearish pressure. The $19.8 level would be the next level of support should the $22 region fail to halt the bears.
While the momentum was strongly bullish, and the 1:1 Gann fan line acted as support, there was a bearish divergence between price and momentum- LINK made higher highs while RSI made lower highs.
Monero [XMR]
Source: XMR/USDT on TradingView
XMR has been trending lower on the charts since it surged to $190 earlier this month. Using the Fibonacci Retracement tool, some levels of resistance to the upside were plotted for XMR.
The 50% level at $152 is the most important level for XMR to flip to support in order for a price recovery. At the time of writing, the short-term momentum was neutral. The long-term outlook was still bullish – as XMR defended the $115 and $130 levels of support strongly over the past two months.
The OBV for the past few days has been trending higher, but also highlights the persistent selling pressure over the past two weeks.
Important levels of support for XMR are $135 and $130 over the next few hours, while the 38.2% retracement level at $144 will offer resistance.
Ethereum Classic [ETC]
Source: ETC/USDT on TradingView
The $8 region has been one of stubborn resistance for ETC over the past two weeks. While the MACD showed rising bullish momentum, the trading volume remained more or less equal to what it had been over the past two weeks.
As ETC approaches $8, trading volume needs to pick up to signal a possible breakout. A move to the upside on low volume would likely be reversed by sellers.
The $7.4 and $7 levels are likely to offer support to ETC should it be rejected at the resistance.
