After yesterday’s jump, cryptocurrencies fell into the red. Despite the price adjustment, Bitcoin’s reversal put significant pressure on other altcoins. MATIC trading volume fell and buying pressure eased. Filecoin has shown no signs of increased volatility, and finally, Solana’s current price action could possibly witness consolidation soon.
At the time of writing, MATIC prices are at $ 1.01. If prices continue to move down, the coin could trade below $ 1.00, the coin has lost 7.5% of its value in the last 24 hours. Matic’s trading volume fell 13.68%, which explains the fall in buying pressure in the market.
Chaikin’s cash flow showed that capital inflows decreased slightly. The bullish momentum has faded and the bearish signal has intensified. MACD indicator as the coin has undergone a bearish crossover today.
The weakening of the price trend was perceived as Medium directivity index was spotted near the 20 mark. If prices remain at roughly the same level, MATIC may display price movement without a trend again.
On the weekly chart, Filecoin regained 8% of its lost value. FIL price volatility can remain stable given how Bollinger Bands stayed parallel with slight convergence during printing.
IN Relative Strength Index presented a sharp drop in buying pressure since yesterday, however the indicator rose slightly during the press release, suggesting that buyers are slowly returning to the market.
Squeeze Momentum Indicator pointed out that volatility was low when the market squeezed, and that if prices continued to fall, it would lead to an opportunity for short selling.
Solana has gained 13.1% in the last 24 hours; however, it followed the lead of other altcoins and recorded a 3.6% drop. At the time of publication, the coin was worth $ 28.39. The movement of the coin has been slow and steady after the July 21 recovery period, however, the bulls have lost strength as the coin rejected the $ 31 resistance level.
Relative Strength Index showed an upward movement, which meant that buyers returned to the market. Medium directivity index approached the 20 mark, which meant that Solana could again enter into price consolidation and trade in a limited range.
However, bearish pressure remained on the market. Awesome Oscillator the red signal stripes have decreased in size.