After a mere glimpse of recovery, the bears ensured to forbid a bull consolidation. The market, thus, wavered into its inherent state of buoyancy.
Altcoins like Ethereum, Ethereum Classic, and Dogecoin hit their weekly lows on November 18 with a massive sell off. On the contrary, the bulls have failed to reverse the selling pressure for an extended period.
Ethereum (ETH)
ETH steadily inclined between the up-channel until mid-November. It performed well by registering over 61% ROI from 22 September to 10 November. Consequently, it touched its ATH on 10 November at $4,868. Then, as the bulls showed slowing signs, the bears capitalized by triggering an over 18% downturn. As a result, the price action touched its three-week low on 18 November after breaching the northern trend.
However, ETH bulls have shown resilience over the past three days, with the price slipping 9.07%.
The near-term technical indicators flashed mixed signs. At press time, the alt traded at $4,344.21. The RSI upturned after the recent bullish move and swayed in favor of the bulls. Although the DMI preferred the bears, MACD and AO depicted increasing bullish influence.
Dogecoin (DOGE)
After being correlated with market trends, DOGE experienced a strong rally in October. Since the end of September, the same coin has risen more than 72% to reach its 11-week high on October 28. After which, the bears made sure to trigger a sell off with high trading volumes. Thus, the price reversed in a descending triangle after losing more than a third of its value from October 28 to November 18. As a result, it hit its six-week low on November 18.
After which, bulls provoked an upturn but could not breach $0.2320 (immediate resistance).
At time of printing, DOGE was trading at $ 0.2284 after noting a 1.5% loss on its daily chart. The RSI, after a slight recovery, pointed to the south. While DMI preferred bears, MACD and AO alludes to their diminishing power.
Ethereum Classic (ETC)
Since 27 October, ETC bulls were on a rally as the price grew by 39.6% to poke its ten-week high on 9 November.
However, the bulls lost their advantage as the price has fallen into a bearish channel since then. Price action fell 28.67% to its three-week low on November 18. Now the bulls have fought back as the price rose 7% in the past three days. Bulls will need increased momentum to break through the $ 51.5 mark (immediate resistance).
At press time, ETC traded at $50.21. The RSI stood below the midline and slackened in favor of bears. While DMI preferred the bears, MACD and AO hinted at their decreasing power. However, the revival was on low trading volumes, signaling its weak nature.
