The global market structure favored selling activity as Bitcoin corrects under its 4hr 20-5—200 Exponential Moving Average. Such narratives saw ApeCoin reversing from $13 and breaking out of an upward channel.
Ethereum Classic dipped into a low volatility period as the alt flashes weak trends. Meanwhile, Shiba Inu highlighted a brief bullish stance on the short-term technicals.
Shiba Inu (SHIB)
NB: We multiply SHIB prices by 1000 to ensure brevity.
Buyers tried to shift the long-term picture to their favor as Shiba Inu resurrected from the mid-March lows. However, bears ensured the 9-week trend-line resistance, preventing massive upward actions from the Dogecoin competitor.
Meanwhile, buyers defended the long-term foothold at the $0.021 level. Shiba Inu saw a more than 24% surge over the previous five days. However, the upward move halted near the trend-line resistance. SHIB swayed beyond the 20-50-200 Exponential Moving Average despite the latest pullback. That indicated a bullish preference.
SHIB traded near $0.02572 at this publication. The past couple of days had the RS hovering near the midline as the indicator exhibited a brief bullish edge. Moreover, the Chaikin Money Flow favored sellers. Nevertheless, recoveries from its support floor would authorize a concealed bullish divergence with Shiba Inu’s price.
Ethereum Classic (ETC)
Ethereum Classic lost over 70% from the September peaks to hit 9-month lows on January 22. However, the alt triggered a nearly 79% recovery within the past three months. That had ETC touching a 4-month peak on March 29. However, the alt encountered a steep decline within a plunging channel.
However, buyers remained dedicated to a sustainable move beyond the pattern as the base at $37 stayed intact. ETC trades near $37.65 at this publication. The DMI did not prefer either side. Moreover, the ADX displayed a feeble directional bias for Ethereum Classic.
ApeCoin (APE)
APE performed well as it recovered within an upside channel on the 4hr chart. Buyers rejoined the marketplace near the $10.6 area after the 30% drop within ten days. Buying actions saw the crypto climbing from multi-week lows.
However, the resistance at $13 remained stable, and sellers triggered a drop beneath the 20- and 50-Exponential Moving Average. The fall had APE testing the Bollinger Bands’ lower limit while jumping into massive volatility.
ApeCoin traded near $11.5435 at this writing. The Relative Strength index deteriorated within a downward channel under the equilibrium. Meanwhile, a close beyond the top trend-line would open upside doors to the 50-level.
