Bitcoin saw some selling pressure just above the $ 59,000 mark when it hit $ 56,600. Most of the altcoin market has also retreated, some deeper than others. Chainlink was still in an uptrend but failed to hold the $ 31.4 level. Enjin Coin slipped below the support it consolidated above and DigiByte also posted some losses but showed it was able to rebound quickly.
Chain link [LINK]
Chainlink was unable to test the $ 33 resistance level on its recent foray into $ 30, but LINK will likely try one more time in the coming days. The $ 28.6 support level is an important one. It has swung the momentum in favor of the bears many times in the past few weeks and if it loses that level LINK will fall as low as $ 27 and even as high as $ 25.9 south.
At the time of writing, the Awesome Oscillator was above zero and the 50-period EMA (yellow) offered some support for the price.
DGB also saw a drop from $ 0.086 to $ 0.078, trading at $ 0.082 at the time of writing. The price was above the EMA band. On a trading session that ends below the $ 0.0749 support, the DGB will continue to drop to $ 0.0689, making this an area of interest.
However, the OBV showed that buyer demand has steadily increased over the past month. This has driven the price of $ 0.05 into a rally, with retreats in between. The most recent slump is likely another such slump. Hence, $ 0.0749 is an area to look for opportunities to buy.
Enjin coin [ENJ]
On the 4-hour chart, the RSI fell below the neutral 50 to indicate bearish momentum. The price also fell below the $ 2.4 support level it had been consolidating over the past few days.
Price retested at the same level as the resistance and the Bollinger Bands widened in the last few hours as the price dropped below the 20 SMA (white). This could cause ENJ to drop to $ 2.06.
Sign up for our Newsletter