Bitcoin has faced $42,000 resistance in recent hours. You might be wondering, where did it go? How would the altcoin market react? Well, the short term outlook for the market has been bearish – there could be some losses in the coming days. Chainlink struggled to maintain a support level.
Chain link (LINK)
Chainlink appeared to shift its short-term bias from bearish to bullish as it reached a higher low at $12.91 and climbed past the $13.4 resistance zone. However, things were still unclear. The long-term trend for LINK has been bearish, but over the past two weeks, the price has risen from $11.5 lows.
The RSI fell below the neutral 50 at the time of writing, even as the price traded in the crucial area of $13.3. If bulls can hold this area, the near-term outlook should remain bullish. But if sellers cause the price to fall below $13.45, the bias should shift to bearish again.
Ethereum Classic (ETC)
Ethereum Classic was trading in a bearish channel. On the previous day, the price had tested the channel’s upper bound at $28.1 as the resistance moved lower at the time of printing. The USD 27.24 support level was also broken in recent hours’ selling pressure.
The OBV has been moving sideways for the past few days, leaving buyers and sellers not having the upper hand lately. The Awesome Oscillator registered red bars on its histogram to show that bearish momentum was increasing. The price could find some support in the middle of the channel for the next few hours.
File Currency (FIL)
The USD 18.29 level has served as a support for the past few days but has broken in recent hours. Filecoin was trading at $17.8 at the time of writing and momentum has been strongly bearish. For FIL, a session closing below $17.7 could test $17.3 and $16.8 in the next few hours.
The RSI plunged into oversold territory. The DMI showed that a bearish trend last week had more conviction than bullish.
This post Chainlink, Ethereum Classic, Filecoin Price Analysis: March 10
was published first on https://ambcrypto.com/chainlink-ethereum-classic-filecoin-price-analysis-10-march/