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The altcoin market has recovered in the wake of Bitcoin’s price gains over the past few days. As of press time, Bitcoin is trading at $ 15,435 with a 24-hour trading volume of $ 21.8 billion.
Source: CoinStats
Altcoins like Chainlink, Ontology and Ethereum Classic have risen by up to 31% in the past few days.
Chain [LINK]
Source: LINK / USD, TradingView
Chainlink is currently trading at $ 13.28 with a market cap of $ 5.1 billion. Since November 5th, the price of the coin has seen an increase of nearly 31%. However, should the trend see a reversal, Chainlink may have to rely on supports at $ 10.8 and $ 9.8 to stabilize its price.
Technical indicators for Chainlink point to bullish sentiment for the coin. The Bollinger Bands are quite separate and continue to indicate greater volatility for the coin. The RSI indicator continues to remain in the overbought zone.
Ontology [ONT]
Source: ONT / USD, TradingView
Ontology has seen a sharp rise in prices in the past 48 hours. The coin is currently trading at $ 0.48 after a 21.4% rise. As of press time, Ontology had a market capitalization of $ 373 million and a trading volume of $ 113 million. At press time, the coin is extremely close to its resistance level at $ 0.49 with a key support at $ 0.44.
The MACD indicator has undergone a bullish crossover, while the RSI indicator is now exiting the overbought zone.
Ethereum Classic [ETC]
Source: ETC / USD, TradingView
Ethereum Classic has seen its price rise by more than 15 percent since November 5th. As of press time, the coin is trading at $ 5.4 with a market cap of $ 631 million according to CoinMarketCap. The next key resistance for the coin is at $ 5.6 with a strong support level at $ 5.1.
The tape EMA has stabilized below the currency’s current trading price and is likely to offer support. The MACD indicator shows strong bullish sentiment as the MACD line continues to rise above the signal line.
