Shiba Inu, Ethereum Classic, ApeCoin Price Analysis: 17 April
With Bitcoin retracing below its 4-hour 20/50/200 EMA, the overall market structure slightly favoured the selling viewpoint. Accordingly, ApeCoin saw a reversal from the $13-mark and broke out of its up-channel.
Ethereum Classic entered into a low volatility phase while flashing a weak trend. On the other hand, Shiba Inu pictured a slight bullish preference on its near-term technicals.
Source: TradingView, SHIB/USD
Do note that the price is multiplied by 1000 from here, for brevity.
On its way up from its mid-March lows, SHIB buyers attempted to drift the long-term outlook in their favor, but the bears upheld the nine-week trendline resistance (white, dashed).
The buyers did take charge of the long-term support from the $0.021-mark. Over the last five days, the meme token saw an over 24% growth that halted at its trendline resistance. Despite the recent pullback, the price swayed above the 20/50/200 EMA and displayed a bullish preference.
At press time, SHIB traded at $0.02572. Over the last few days, the RSI hovered around the midline and noted a slight bullish edge. Furthermore, the CMF revealed a bias favoring the sellers. But, recovery from its support would affirm a hidden bullish divergence with price.
Source: TradingView, ETC/USDT
ETC lost more than 70% of its value from its September highs and touched its nine-month low on 22 January. Since then, the altcoin has seen an aggressive 78.3% recovery over the last three months.
As a result, it touched its four-month high on 29 March. Since then, ETC has steeply declined in a descending channel (yellow). With the $37-base intact, the buyers endeavored to find a sustainable break above the pattern.
At press time, ETC was trading at $37.65. The DMI refrained from giving an
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