Terra, STEPN, Waves Price Analysis: 09 April
Bitcoin slipped beneath the $44k space and retested it as an space of provide yesterday, and there was promoting seen throughout the crypto market. Terra and STEPN have been on a downtrend on the decrease timeframes, whereas Waves has seen a extreme drop that erased a big chunk of the positive aspects of the previous two weeks.
LUNA slipped beneath the resistance zone at $94.3. The Fibonacci retracement ranges (yellow), particularly the 61.8%-78.6% ranges that are ranges the place the worth consolidates earlier than a reversal, did not see adequate demand.
The momentum behind LUNA was bearish because the RSI stood at 333, and it was seemingly that within the subsequent few hours LUNA would publish additional losses. The RSI has been under impartial 50 for the previous couple of days, and the CMF additionally slipped beneath -0.05 to indicate robust promoting strain. The Cumulative Quantity Delta was additionally within the pink.
After extraordinary positive aspects, GMT has seen some compression up to now week, as the worth repeatedly retested the $2.1 help stage and set a sequence of decrease highs. The $2.1 and $2.23 are ranges of significance within the close to time period, and additional north the $2.4 space would seemingly supply resistance.
The descending trendline resistance of the previous ten days (white) would even be a stage that bulls want to beat, so as to impact a breakout.
The RSI, alongside the worth, confirmed how momentum has stalled in latest days and was straddling the fence at impartial 50. The OBV has additionally been comparatively flat, however promoting quantity has been barely larger than shopping for up to now couple of days.
WAVES was one other coin that has seen vital promoting strain up to now few days. The Fibonacci ranges (yellow) offered the 27.2% extension stage at $24.64, with a horizontal help stage at $23.39 as nicely.
The A/R confirmed the promoting strain was regular and better than the shopping for, whereas the RSI additionally confirmed robust bearish momentum. $25.5, $24.4 and $21.6 are targets for brief positions from $27 or larger to take revenue at.