Bitcoin and altcoins struggle to find new bullish momentum, but data hints that traders are content to buy dips to lower support levels.
) recovery attempt is facing strong selling at the downtrend line. This indicates that the bears are defending this level aggressively.If the price skids below $19, the SOL/USDT pair could resume its downtrend. The first support on the downside is $18 and the next is $16. Buyers are expected to defend this level with vigor.
The first indication of strength will be a break and close above the 20-day EMA . That could start a stronger recovery to the 50-day SMA . This level may again act as a roadblock but if bulls clear it, the pair could attempt a rally to $25.42.The sharp rise in Toncoin pushed the RSI into the overbought territory indicating that the rally had run up ahead of itself. That typically leads to a correction or consolidation and that is what happened.
Alternatively, if the 20-day EMA cracks, it will suggest that the bulls are losing their grip. The TON/USDT pair may then slump to $1.53 and later to the 50-day SMA .
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