The cryptocurrency market is preparing to close the month of December with horizontal movements. Most altcoins, including Bitcoin, have spent the past few weeks below critical resistances. Technical indicators show that, meanwhile, the 4 altcoin projects are preparing the ideal ground for a comeback.
Filecoin trades in bull pattern as bears try to reverse trend
Filecoin (FIL) is starting a strong uptrend as the bulls take the stage again towards the new year. Previously, it fell to $ 2.9 with sales that occurred in December. Finally, the bulls, who started to keep the bears under control, found support from the bottom prices. The bulls are now pressing to take control and push the price of the FIL up to $3.0.
The market was stable, as seen from the linear movement of the upper (2.98) and lower (2.91) Bollinger Bands. This shows that the selling pressure is met by the buying pressure and may increase the bullish pressure. As the price approaches the upper range, the bulls are gathering strength for higher highs. As a result, the technical data shows that the bulls will be in control in the short term.
Technical indicators show bulls ready for this altcoin
Along with Filecoin, bullish control Polygon (MATIC) also dominated the market. The bulls managed to stop the selling in the 0.7876 region in the last weeks. On the technical side, the linear movement of the upper (0.8039) and lower (0.7914) Bollinger Bands shows that selling pressure is being met by buying pressure. This positive trend should strengthen as the price approaches the upper band. This indicates that the bulls will be in control in the near future.
Cardano (ADA) bulls need to break this level for additional gains
ADA bulls have regained control after a bottom zone of $0.2553. Cardano is currently trading at $0.262, up 1.7% from the last 24 hours. Meanwhile, the Keltner channel bands on the 4-hour price chart have also widened, accompanied by increased volatility. The intersection of the upper and lower bands with the values of 0.2644 and 0.2585 supports this idea. A bullish indicator was in line with the price’s recent move towards the upper range, which is consistent with a sustained uptrend.
The RSI reading for the ADA price chart shows that the market is neither oversold nor overbought, but the buying pressure is higher than the selling pressure, indicating an uptrend. Since the RSI reading was above 50, it was clear that its value had increased. However, traders’ concerns are further heightened by the RSI’s downtrend, which signals a bear market correction should the RSI drop below the signal line.
Overall, the bears look tired and the upward move from the technical indicators suggests that the uptrend may continue. Similarly, the Shiba Inu chart is forming a reversal pattern before the new year.
While altcoin market is flat, SHIB is showing signs of reversal
Shiba Inu’s intraday chart is recording a descending triangle pattern confirmed by its increasing volume profile. Near the end of the pattern, the trading volume can increase significantly. This means an expected increase in volatility. SHIB is currently trading at $0.000008288. The $0.0…820 zone was the base of this triangle formation. Shiba’s movements from this region during the day will be critical.
Meanwhile, it was among the catalysts that supported the SHIB price in recent announcements. cryptocoin.com We have included the latest developments for Shibarium in this article.
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