Ethereum News: The downtrend of high-capital cryptocurrencies continues under the shadow of Bitcoin. In the last 24 hours, Bitcoin has regressed by 8 per thousand, while Ethereum loss is around 1.6 percent.
Among the popular altcoins that we will be covering price analysis today are Tezos (XTZ), Ethereum Classic (ETC), and Dash. Tezos was seeing a 5 percent loss as content went live, with ETC seeing significant declines among those who’ve been feeling the pressure hard since the last week of June. DASH depreciation risks slipping below the main $110 support.
Tezos price has been dropping for the past few days. The coin could decline below the current $2.44 price level with the current trend.
If the decline continues, XTZ could stay at or below the $2.30 support level. According to the current XTZ price, XTZ is depreciated by 11.5% in a one-week period
The Parabolic SAR signal has been aligned above the candlesticks since July 13 and at the time of writing, the indicator gave the same value due to further declines in prices. Market strength wanes with price and the Average Directional Index has stalled just above the 20 mark and a weak trend remains.
Conversely, capital inflows increased slightly, as shown in Chaikin Money Flow. This could mean buyers are entering the market as the coin discovers lower prices last week.
Ethereum Classic (ETC)
ETC price has fallen significantly since June 28 with almost negligible signs of recovery. Demand for altcoins has since disappeared as well. ETC’s poor performance caused its market cap to drop 4.07% at the time of writing.
The asset was down 18.2% last week, and at the time of writing it lost 4% on the day. If it continues its free fall from the $41 levels, the next level of support could be $36.
Weak demand from ETC sent the coin into the oversold territory several times this month. Toward evening, buyers were still less than sellers. However, the RSI was just above the oversold zone. Similarly, Chaikin Money Flow pointed to declining capital inflows.
The MACD’s histograms showed a prolonged bearish trend on the charts.
The technical charts for DASH highlight the bearish trend in price, and at the time of writing, the coin was valued at $116,335. If altcoin price fails to rally in the next few trading sessions, it could soon drop further to reach the $110 support level.
The asset showed a meager 0.5% gain during the intraday trading session. Only if the price reverts to an uptrend to touch the $129 level could the coin see some recovery.
Bollinger Bands have a contraction indicating low volatility at the time of writing. Accordingly, the Squeeze Momentum Indicator also depicts black crosses in the midline; It can be interpreted as a reading implying that the market has entered a new contraction and may prepare itself for a breakout. The appearance of red bars could also mean that DASH price could see smaller dips.
Finally, the Relative Strength Index posted an uptick, signaling increased buying pressure. However, the dominance of the sellers continues.