Solana, EOS, Tezos Price Analysis: 12 April

The crypto market noticed an enormous wave of promoting over the previous two days. Bitcoin fell by almost 10% from $43.3k to $39.8k, and Solana and Tezos additionally posted related losses. Solana has been in a near-term downtrend because the bearish retest of $136. EOS and Tezos additionally had a bearish outlook on the shorter timeframes. But, the day after a pointy drop typically presents shopping for alternatives.

Solana (SOL)

Solana, EOS, Tezos Price Analysis: 12 April

Supply: SOL/USDT on TradingView

SOL has been in a downtrend over the previous week and was buying and selling on the $100 space on the time of writing. The $98-$100 space has acted as help prior to now, and SOL may see a bounce from this space.

The RSI was at 31.15 and confirmed sturdy bearish momentum. The OBV has additionally been in a downtrend prior to now ten days, to point out that promoting stress has been a lot stronger than the patrons. A bounce towards $108 may happen. The $105-$108 space may see promoting stress intensify as soon as extra.

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Solana, EOS, Tezos Price Analysis: 12 April

Supply: EOS/USDT on TradingView

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EOS has additionally displayed sturdy bearish momentum in latest days coupled with heavy promoting quantity available in the market. The Superior Oscillator was beneath the zero line, whereas the A/R line was transferring sideways prior to now couple of days. This might trace at a bounce towards $2.3.

The Fibonacci extension ranges (yellow) plotted based mostly on EOS’ transfer down from $2.34 to $3.06 confirmed the 27.2% and 61.8% extension ranges to lie at $2.15 and $1.9.

One other session shut beneath $2.15 would doubtless see EOS descend towards $1.9.

Tezos (XTZ)

Solana, EOS, Tezos Price Analysis: 12 April

Supply: XTZ/USDT on TradingView

The RSI and the value motion on the hourly chart confirmed a bearish divergence. The CVD additionally climbed into constructive territory to indicate the shopping for stress to be simply barely stronger than the promoting stress.

The $3.1-$3.17 space (purple field) may pose resistance to an XTZ bounce. To the south, the $2.84-$2.9 space may provide help. Therefore these areas will be promoting and shopping for alternatives within the subsequent few days.

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