Bitcoin traded sideways over the past day after meeting the $41.5K resistance. BTC’s swift climb past $40K had the altcoin market assuming a bullish picture. Meanwhile, Avalanche encountered massive resistance in the $82 region, whereas NEAR and Polkadot presented short-term buying opportunities.
Avalanche trades inside the $65.5 – $98.8 range. The range’s mid-point stands at $82, and the area will present a resistance area within the coming few hours. Nevertheless, the Relative Strength index stayed beyond the neutral 50 on its hourly chart as a bullish momentum showcase. The Stochastic Relative Strength index plunged into the oversold area and appeared on the edge of printing a bullish cross-over.
AVAX can revisit the range at $78 – $78.5 in the upcoming hours, searching for demand. That could mean a ‘buy’ opportunity. Meanwhile, interested market players can put a stop-loss below the support floor of $76.8.
Polkadot also surged past the former resistance zone of $18.4, and DOT can retest the level as a foothold over the coming hours before embarking on another upsurge. The on-balance volume maintained downward action over last week, but that changed.
The past two days saw DOT price plunging towards the $17 mark before witnessing a massive bounce. Moreover, the OBV also saw an upward move, whereas the Relative Strength index remained beyond the zero-line. For now, the present bullish strength and demand might propel DOT prices towards the highs of $19.4, then $20.
NEAR Protocol (NEAR)
Near Protocol witnessed a bearish divergence between the indicators and the price. NEAR formed a higher high the past day. The 0n-balance volume and Awesome Oscillator recorded a lower low at that time. The divergence appeared to trigger a pullback for NEAR Protocol.
How lower can this pullback go? The chart shows a vital short-term zone of $16.4. The value represented a bearish order block, and NEAR broke clear past the area. That forms a bullish breaker, meaning $16.4 is the region where Near Protocol might revisit to gather sidelined liquidity before propelling another upward move toward $20.