Chainlink is expected to drop to $ 24.6 due to declining on-chain metrics. THETA could cool off at lower levels before resuming its uptrend. Further down the crypto ladder, Dash noted a lack of buying activity and threatened to drop below the $ 203.8 support, while OKB highlighted a strong rebound after bouncing off the $ 12 mark.
Chain link [LINK]
Chainlink’s price was largely subdued in March. While the former top 10 coin traded at record levels in late February, a wider market retreat hampered its uptrend. In fact, LINK attempted a comeback after recovering from the $ 24.6 support level, but the price reversed its course after breaking the $ 28.6 cap.
The Ingenious oscillator registered a series of red bars and a movement below half the line could cause LINK to lose its support for the print time as well. The RSI pointed south from the 40 mark as the bears sought control of the market. In the event of a breakdown, additional levels of support could be found at $ 24.6 and $ 23.1.
While THETA was close to record levels at the time of writing, the indicators showed a short-term bearish scenario for the latest addition to the top 10 crypto rankings. The Ingenious oscillator threatened to move below the equilibrium mark while the signal line continued to move above the equilibrium mark MACD Line. There was some support at $ 11.6 but if broken down the price would fall towards $ 10.6 or even $ 9.05.
On the other hand, if the cops maintained support levels for press time, a favorable outcome seemed possible. THETA’s strong uptrend would likely result in newer record highs after overcoming declining pressure in the market.
Within the 4 hour timeframe, the Dash bulls made some headway towards the rebound, but gains were capped at the upper cap of $ 219.1. Indeed a bearish crossover in the MACD suggested that price could even lose against a newly mirrored support line if the index falls below the half-mark.
The OBV was at its lowest point in 45 days and showed the lack of buying pressure. This made it even more difficult for the bulls to regain a move above the USD 245.1 resistance, a level that kept the price capped in March.
Losses over the past 30 days have been nearly 10% as OKB fell below multiple levels of support. The defense line at $ 12.1 eventually dampened the price and even rallied for the past five days. The Chaikin cash flow showed strong capital inflows as OKB flipped the $ 16.4 resistance. Meanwhile it is ADX highlighted a strong uptrend as it neared the 50 mark. However, the index was down at the time of writing.
The 24-hour trading volume approached $ 300 million and if it picked up, the price would move towards the next test at a resistance of $ 18.3.
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