Unfortunately, the momentum from BTC has not spilled over to its ‘little brother’. Although we have seen slight green candle today, we are still bounded by the central moving average of the KRI at $267, and a congestion level which coincides with a psychological level at $250. We have gradually trended upward over the past couple days, which seems like a purely technical move at this point. The Kovach OBV is still bullish, though the Kovach Chande is still bearish, but picking up, indicating it may swing back to positive territory soon. If it can’t, we have support levels from nested Fibonacci levels at $236 and $200, and the lower bound of the KRI at $190.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
For daily commentary on cryptocurrencies, subscribe to our newsletter!
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
For daily commentary on cryptocurrencies, subscribe to our newsletter!
Join my discord at discord.io/quantguy
