The altcoin space registered impressive upside actions over the past week, but most of them meet resistance zones on their respective charts as Bitcoin stalled around a resistance territory. Avalanche seems primed for a downside move before another upsurge. Meanwhile, XRP maintained its upward stance.
The past couple of data saw Ripple token recording multiple higher lows on its charts, indicating an upside in the near term. Furthermore, the remittance token climbed beyond a long-term mid-point of a channel. That shows XRP might record more upswings in the coming weeks.
The resistance zone at $0.849 represents XRP’s peaks in March- and the crypto roe past the highs. Though the cross-border payment alt could not hold above these levels, the development meant bullishness.
The Awesome Oscillator (AO) stayed below the zero-line, responding to the selling pressure over the past day. Meanwhile, the on-balance volume has climbed steadily and displayed buying volume for the alternative token.
The bullish flag breakout had Avalanche rising to $91 from $80. Nevertheless, AVAX found $91.6 an adamant resistance over the previous week. The alternative coin has plunged below $85.2 amid downswings within the past couple of days. Also, Avalanche might encounter more downtrends towards $81, testing the value area for demand.
The Relative Strength Index dropped under the neutral 50 and seemed primed to retest the level as resistance before encountering further declines, which would confirm a near-term downtrend. Moreover, the Chaikin Money Flow (CMF) also plummeted below +0.05.
Late February sessions had Polkadot on a sharp move to $19.56 from $14.05. Experts plotted FIB retracement zones from this price move. Polkadot met rejection from 27.2% extension zone at $21 when publishing this content. Bears still dominated the $21 to $21.3 territory, but that might change for Polkadot to push higher, eyeing the 61.8% extension at $23.
Meanwhile, the Moving Average Convergence Divergence remained beneath the zero-line. However, the indicator displayed a bullish cross and might retest the $21 area as resistance again. Also, the CVD seems to shift to buying momentum from selling pressure.