סאָלאַנאַ, זאַמד, עאָס פּרייַז אַנאַליסיס: 17 מאי

The altcoin market saw a slight uptick over the last five days after most altcoins’ four-hour technicals swooped into the oversold mark. Consequently, Solana flashed a bullish edge after breaking out of its falling wedge. However, its current up-channel still carried a reversal threat in the short term.

On the other hand, SAND and EOS grew by marking a bearish pennant whilst displaying a neutral stance on their technicals. 

סאָלאַנאַ (SOL)

מקור: TradingView, SOL / USD

SOL’s breach of its five-month trendline resistance (white) paved the way for a bear run that accounted for a 55.4% decline within the bounds of a falling wedge. With a massive selling pressure kicking in, the alt dived toward its nine-month low on 12 May.

As the buyers were eager to defend the $43-support, SOL saw an expected falling wedge breakout. While the 38.2% Fibonacci resistance held up well, the sellers have constricted the recent buying rallies in the $58.17-zone.

At press time, SOL traded at $57.1675. The alt’s רסי recorded a steady growth after recouping its power from the oversold zone. As a result, the index found a position above the midline while favoring the bulls. Furthermore, the AO formed bullish twin peaks that helped the oscillator jump above the zero-mark.

די זאַמדקאַסטן (SAND)

מקור: TradingView, SAND / USDT

After the 70.2% Fibonacci resistance refuted the up-channel buying rally, the sellers re-navigated the trend in their favor by pulling the price all the way to the $1.1 baseline. Since then, the 23.6% level has shunned multiple recovery attempts.

Now, the altcoin witnessed a bearish pennant on the 4-hour timeframe. A sustained reversal below the 20 EMA (רויט) קען זיין דעטראַמענאַל פֿאַר די בויערס אין די קורץ טערמין.

אין דרוק צייט, SAND איז געווען ביי $ 1.3585, אַרויף מיט קימאַט 4% אין די לעצטע 24 שעה. די רסי swayed near the midline to flash neutrality for the last few days. An ability to find a robust close beyond the 50-mark would help sellers gain thrust to propel a break down below the $1.3-mark.

יאַס

מקור: TradingView, EOS / USDT

EOS saw a decline of about 61% (from its April highs) until the bulls displayed strong rejection of lower prices in the $1.1-$1.2 range. This fall was triggered after the sellers continued to build up pressure at the $2.2 price point.

Now, the three-week trendline resistance could continue to pose an obstruction in the buying comebacks. A fall below this level would affirm a selling edge while hindering the short-term recovery process.

אין דרוק צייט, EOS איז געווען ביי $ 1.358. די ביסל בעריש רסי failed to break above its equilibrium, while the 45-support could offer immediate testing grounds.