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In the past 24 hours, Bitcoin had a high of $ 19,915 and a low of $ 18,100. This volatility has seen some altcoins lose a few percentage points in value. Ethereum fell from $ 620 and moved below the $ 580 support, although it remains to be seen whether that level will reverse into resistance in the next few hours. IOTA is also likely to have experienced some short-term losses and Aave held its position above $ 74 but had no buying volume.
Ethereum [ETH]
Source: ETH / USD on TradingView
The MACD formed a bearish crossover above the zero line, indicating that the upward momentum had stopped and should have gathered steam for another upward move.
The price fell below the $ 580 support, with subsequent support at the 50 SMA (yellow) and the $ 550 level.
In a longer-term perspective, a double-top pattern could form. The most recent peak for ETH is near $ 620 and would require ETH to close below $ 500 before being confirmed.
In related news, the first step for Ethereum 2.0 was taken with the Beacon Chain which was recently released.
IOTA
Source: IOTA / USD on TradingView
The fixed range volume profile has highlighted some support and resistance levels for IOTA based on trading for the last couple of weeks.
The price can expect to find support at $ 0.314 later after breaking below the $ 0.326 level.
A move to $ 0.3 may be in place as the RSI has fallen below neutral 50. The path of least resistance for IOTA has been to the downside following a strong rejection at $ 0.355.
Aave [AAVE]
Source: AAVE / USDT on TradingView
The AAVE recovered strongly from the $ 51 drop in the support level, but the buying volume did not paint a pleasant picture despite the price increase.
The OBV formed a series of lower highs as AAVE rallied and, as of this writing, sat quite close to its local high of $ 80. The lack of buying volume behind the price increase could see a correction in the coming weeks.
The Awesome Oscillator showed that the momentum was still in favor of the bulls.
