Ethereum witnessed some selling momentum within the past few days, but that didn’t mean an end to ETH’s upward actions. Instead, it was a slight plunge to $3,315 before the token launched another leg-up. Axie Infinity recorded a pullback towards a logical demand territory, whereas WAVES maintained an upside stance.
Ethereum highlighted bullishness on its higher time-frames like the 4hr and beyond. On the other side, the 1hr and lower time-frames displayed a potential pullback for the leading alt. While publishing this blog, the 2hr chart shows demand and momentum favored bullishness for Ethereum.
The Relative Strength indicator remained beyond the neural 50 and displayed a concealed bullish divergence looming, whereas the on-balance volume continued to rise. A session close under $3,315 might unveil a bearish bias in the near term. Such a narrative might see Ether plummeting towards the $3,100 – $3,200 region. Nevertheless, that might mean a ‘buy’ opportunity.
WAVES maintained upward actions since February. Meanwhile, the alternative token gained approximately 84% over the previous 48 hours, almost touching the 61.8% FIB extension zone. Meanwhile, $54 and $49 might serve as support amid bull backs. On the other part, an upside push past $60 might see WAVES exploring the 100% extension area at $66.7.
The Awesome Oscillator remained bullish, though it might print a bearish divergence in the upcoming few days. That can reveal pullbacks. The CVD highlighted the lucrative demand behind WAVES’ rally. Moreover, the alternative token has seen enormous trading volume.
Axie Infinity (AXS)
The platform housing Axie Infinity (Ronin Network) suffered an attack, losing over $625 million to a hacker. AXS saw its price dropping to $62 from $70 as the news emerged. Nevertheless, $62 represents the 78.6% retracement area of the last week’s move to $74.85 from $58.55.
The pocket between $62 and $64.8 shows a lucrative area to purchase AXS. Nevertheless, indicators in the 2hr time frame didn’t display a bullish strength resurgence. The DMI’s ADX and +DI stayed beneath 20. Also, the Relative Strength Index remained below the neutral 50.
We have more crypto updates coming your way. Stay around.