Most altcoins on the market, including EOS, Ontology, and Cosmos, were flashing green at the time of going to press. Bitcoin’s move above the $ 35,000 mark is giving the market a lot of bullish momentum. However, there are some signs that EOS may not be able to maintain its momentum in the short term.
While the market dynamics have been very positive for EOS late. The resistance level at $ 3.12 prevented the cryptocurrency from climbing back to its late November levels. The price of crypto was moving north at the time of writing. So a correction could see EOS fall towards the support at $ 2.91.
Therelative strength index was heading into overbought territory, at the time of writing. While this is bullish for the price, a reversal could be ahead if the index rebounds and pulls lower towards the oversold zone.
The candlesticks were trading on the upper band of the Bollinger bands. A potential pullback could be on the charts if the price moves south and towards the lower band.
The ontology increases steadily in the charts. The price of crypto is gaining 16.7% over the past seven days. A look at the 4-hour chart of the ONT shows that the price of the crypto had broken through the resistance levels at $ 0.45 and $ 0.50. Indicators suggested more upside for ONT. But a correction on the charts for Bitcoin and Ethereum in the near future could see ONT flashing red.
The Chaikin Money Flow has increased with the price of cryptocurrency. It highlights the fact that the capital inflows were pushing the price beyond the resistance levels mentioned above.
The Parabolic SAR dotted markers were under the candlesticks, an indication that the price was bullish.
Like its EOS and ONT counterparts, Cosmos also recorded positive gains on the charts. Its price is up 6% in the last 24 hours. A move higher on the charts towards the resistance level at $ 7.06 seemed very possible. Indeed, the indicators were bullish for the cryptocurrency. On the other hand, the price could lose momentum if the next level of resistance is challenged.
The MACD was gaining ground on the Signal line. The bars of the histogram also rose above zero. This signaled a higher potential move.
Finally, the green bars of theAwesome oscillator were also rising above balance. This signals the increased buying pressure in the market.
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