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The trading volume in spot trades decreased by 25%, while the trading volume of ETH Futures increased. This implied that traders feared a correction. In the charts, Ethereum has formed a symmetrical triangle which could see a breakout in the coming days. Tezos was in an uptrend but had not yet attacked a major resistance level. Dash showed that healthy buying interest fueled its recent earnings and may continue to grow.
Ethereum [ETH]
Source: ETH / USD on TradingView
Ethereum showed a symmetrical triangle pattern (orange), a pattern that is generally a continuation pattern, but a downward break can also occur.
Another evidence of a bullish breakout was the hidden (white) bullish divergence, where the price reached a higher low while the momentum indicator (RSI) made a lower low.
There has been a significant level of resistance at $ 450 that ETH must break through to reach $ 480. If Bitcoin breaks out of $ 16,000 in the next few days or faces a downward correction, it would also have a big influence on ETH.
Tezos [XTZ]
Source: XTZ / USD on TradingView
Tezos slipped below the $ 2.24 level at the end of September and was unable to flip that level to support. Last week saw XTZ drop to support at $ 1.8.
The Directional Movement Index (DMI) showed that XTZ was in a strong uptrend, as the ADX (yellow) moved above 20 while the + DI (blue) indicated the bullish nature of the trend.
Yet the possibility remained that XTZ would not be able to rise above $ 2.24 once again, so it would be a good level to take profit or close long positions.
Dash [DASH]
Source: DASH / USDT on TradingView
The cyan arrow showed that the trading volume was low even though the price rose. As a result of this price versus volume discrepancy, DASH fell from $ 68.8 to $ 66.9.
Since then, the volume has been more convincing. The OBV also showed that the volume of purchases was increasing.
Dash has been in a downtrend since mid-October, and last week’s surge indicated that it could be a turnaround. For DASH to maintain the bullish momentum, a successful rollover resistance at $ 69.8 is required, followed by a close above $ 72.
