Ethereum Selling pressure has been seen in the last few days, but this did not mark the end of the uptrend. Rather, it could only have been pulled back slightly towards $ 3,315 before another leg went up. Axie Infinity Seeed a pull back to a logical demand zone, and wave It was up-only mode.
Ethereum (ETH)
Ethereum was bullish on higher timeframes, such as 4 hours or more. On the other hand, it has been shown that ETH may recede in time frames of 1 hour or less. Using the 2-hour chart during the press, we can see that momentum and demand were still in favor of the Bulls. The RSI remained above Neutral 50, indicating that a hidden bullish divergence occurred while the OBV continued to rise.
At the end of a session below $ 3315, the bearish bias in the time frame may decrease and ETH may fall to the $ 3100 to $ 3200 range. This will probably be a purchase opportunity.
Waves (WAVES)
Source: TradingView WAVES / USDT
WAVES has been on fire since February and has seen an increase of nearly 84% in the last 48 hours. The price tested the Fibonacci expansion level of almost 61.8%. Levels of $ 54 and $ 49.3 can act as pullback support, but with pushes above $ 60, WAVES can reach the 100% expansion level of $ 66.7.
The Awesome Oscillator was very bullish, but in the next few days it can form a bearish divergence and a pullback may be seen. CVD showed strong demand behind the rally and the volume of transactions was huge.
Axie Infinity (AXS)
Source: TradingView AXS / USDT
Axie Infinity’s Ronin network was hit by a $ 625 million exploit, and at the same time the news was announced, with AXS prices plummeting from $ 70 to $ 62. However, based on last week’s move from $ 58.55 to $ 74.85, the $ 62 level is a 78.6% retracement level.
The entire pocket, from $ 62 to $ 64.8, is a good area to buy AXS. However, in the two-hour time frame, the indicators did not show that the bullish momentum had yet resumed. The DMI’s ADX (yellow) and + DI (green) were less than 20, and the RSI was less than 50 neutral.
