The cryptocurrency market remained sideways over the previous few days. That followed a massive selling wave. Litecoin and BNB also kept sideways actions after rebounding within the past couple of days. Nevertheless, the market structure sustained a bearish picture. DOGE printed an ascending channel, whereas WAVES exhibited a bearish outlook in the short term.
Binance Coin (BNB)
The resistance at $418.2 has meant a massive hurdle for Binance Coin over the previous week. The alternative token rebounded towards $425 after dropping to the lows of $395. Remember, BNB has sustained downtrends since touching the $460 mark. Nevertheless, Binance Coin launched upsurges in late February, meaning the downward phase was only a pullback.
The Relative Strength Index hovered near the neutral 50 over the past couple of days, standing at 41 during this publication. The on-balance volume also maintained flat downswings before going flat over the past few days.
The original canine-themed crypto hovered inside an ascending channel. Meanwhile, DOGE slipped under the mid-range at this publication. Such developments (plus the rejection near $0.148) mean the crypto might slump towards the channel lows.
The channel lows may see Dogecoin bouncing higher, potentially climbing beyond the $0.148 zone. The Relative Strength index remained beyond neutral 50. Also, the Awesome Oscillator displayed a bullish strength, though not that strong.
The VPVR had the Point of Control at $125. Other visible range’s high volume nodes stand at $111, $114, and then $127. Litecoin traded around the Value Area Lows (VAL) at this publication. Meanwhile, a bullish action might emerge if LTC flips the $112.7 mark to support.
The MACD stayed flat over the previous few days, though the indicator remained beyond the zero line. The CVD didn’t show massive selling or buying over the last few days. That came after it oscillated from side to side. Therefore, a move past $115 can welcome potential bullish action.
WAVES exhibit a bearish market outlook as the alt formed several lower lows and lower peaks. The alt had defended the support level at $20.46 over the past couple of days. The rebound to $22 from $20.46 had the RSI climbing beyond neutral 50, highlighting bullish strength.
The DMI displayed a massive bullish trend at the low timeframes as the positive DI and ADX climbed beyond the 20 levels. Nevertheless, the $23.4 – $24 range might pose a stiff hurdle for Waves bulls.