Though the crypto market recovered quickly after February 24, bears remained alert. Solana, FTM, ETC exhibit similar biases on their 1-hr chart.
Solana lost its strength when it plunged from $105.40 to secure support near $77.50 on February 24. Nevertheless, buyers stepped in, triggering a quick bounce back for the token. The following six days saw Solana reclaiming $105 as its resistance. However, bears pushed SOL down with the past 72 hours as the alt breached the trend-line support to retest the nearest support near $86.70 on March 5.
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Why publishing this content, Solana traded near $88.49, following a 1.49% drop within the past 24 hours. The Relative Strength Index at 42.84 seemed weak, and the Awesome Oscillator remained below the zero line. Technicals show Solana may retest the support at $87 again.
Ethereum Classic (ETC)
Ethereum Classic lost grounds at $32.94 as it declined in a downside channel to discover support near 2-month lows of $23.66. Nevertheless, buyers emerged to push ETH’s upside to $30.43 on March 1. The altcoin hovered around the same region within the next 72 hours before bears dragged it lower. That had ETC retesting the nearest support at $27.10 two times on March 5 and 6, weakening the level. While publishing this content, Ethereum Classic traded at $27.29 after a 2.1% drop over the past day.
The Relative Strength Index hovered near 37.97, suggesting a bearish bias. Also, the Chaikin Money Flow swayed beneath the zero line. ETC’s next support might appear at $26.08.
Fantom followed a downside wedge as the alt plunged from $2.05 to the crucial support near $1.34 on February 24. Buyers emerged within no time to push FTM higher. That way, the alt touched $2.05 within the following six days. Nevertheless, bears dropped FTM again. The altcoin broker trend-line support after March 2, hitting the floor at $1.62. While publishing this content, Fantom traded at $1.61, reflecting a 4.75% 24-hr decline.
The RSI headed for a south dive at 32.23. Moreover, the DMI highlighted a bearish cross. Technical shows the alt might experience more bearish actions in the coming days.