Ethereum bulls targeted a rise above the 20-SMA, while easing losses at the $ 1,536 support. SNX predicted an increase to all-time highs once again.
Ethereum (ETH) price analysis
The Ethereum bulls maintained the $ 1,536 support level and triggered a return to the $ 1,667 price target. Chaikin Money Flow suggested that corporate money flow could be effective in relieving the latest selling pressure. The MACD showed that the market was still bearish as the signal line moved above the fast-moving line, although momentum was decreasing, according to the histogram.
The next few sessions could be crucial for the world’s largest altcoin, as falling below the 50-SMA could lead to a potential downtrend in the medium to long term. In the opposite direction, an increase above the 20-SMA (blue) may once again bring ETH trading closer to record levels.
Synthetix (SNX) price analysis
Bollinger Bands on Synthetix have experienced strong volatility over the past few days as the SNX climbed to its all-time high and then moved down on the charts. Following the correction, the bulls targeted record levels and the price rose from the $ 18.9 support. The upward trend in the Relative Strength Index also explained the price increase in the last 24 hours.
Despite the bullish forecast, trading volumes and buying activity were quiet. A market-wide rally may be needed to take the SNX higher. In the event of a drop, the next support levels are located at $ 18.83 and $ 17.7.