An outlier available in the market, Theta had sturdy bullish momentum behind it. Ethereum confronted choices expiry and will see vital volatility within the coming hours, and Chainlink continued to development decrease on the charts.
Ethereum [ETH]
Supply: ETH/USD on TradingView
On Superior Oscillator, decrease (much less bearish) peaks have been shaped as ETH slowly climbed upward after dropping to $1555 as an area low. The $1635-$1665 area represented a former area of demand, now seemingly flipped to provide.
The same bounce, with decrease peaks for ETH on the AO, was noticed a couple of days again as ETH bounced from $1655 to $1735 earlier than a drop, and the identical state of affairs may play out within the highlighted area of provide.
Such a drop would seemingly see ETH drop to $1450 as help whereas climbing above the provision area would point out some power from the bulls.
Chainlink [LINK]
Supply: LINK/USD on TradingView
On the 4-hour chart, LINK continued to labor below bearish stress. The area of demand at $24.84-$25.86 noticed LINK bounce, however one other transfer downward seemed to be within the works.
Stochastic RSI climbed towards overbought territory whereas RSI confirmed a price of 39.5, indicating sturdy bearish momentum.
Within the coming hours, it’s seemingly that LINK would sink beneath the demand area to seek out help on the $23.24 degree.
Theta [THETA]
Supply: THETA/USDT on TradingView
Quick-term bias for THETA flipped to bullish after the $10.5 help degree was briefly examined, following the announcement of mainnet 3.0 launch being pushed to June, however THETA managed to recuperate. It climbed previous the 50% retracement degree and flipped the 38.2% degree from resistance to help as nicely.
MACD climbed again above the zero line to sign bullish momentum and was rising on the hourly chart, whereas OBV continued its uptrend to indicate that purchasing quantity outweighed promoting quantity.
