Though Algorand witnessed remarkable gains from February lows, it showed vulnerability. A decisive close beneath its pattern might see ALGO retesting $0.79. Moreover, Ethereum Classic registered a bullish flip on the EMA Ribbons. Bulls defended 20EMA to avoid a fallout. Axie Infinity climbed past its Simple Moving Averages while its Relative Strength Index overturned from the overbought level.
Struggles to overcome the resistance at $1.8 had bulls losing their influence amid increased sell-offs within the past two months. Therefore, the token lost around 61.5% since January 5, dipping towards 7-month lows on February 24.
Meanwhile, ALGO bulls made impressive recovery efforts within the previous week. That had Algorand climbing by 27% from the support of $0.68. The 23.6% FIB resistance remained steady. While publishing this content, Algorand changed hands at $0.8343.
The Relative Strength Index saw an upward channel breakdown over the past few hours. The break requires support at 45 to 47 levels for committal moves by ALGO. Also, the MACD highlights an emerging bullish momentum.
Ethereum Classic (ETC)
ETC traversed within the $24 – $34 range within the previous two weeks after rebounding from the January low of $21. The token recorded steep upturns within a climbing wedge on the 4hr chart. That came after Ethereum Classic tested its floor.
That way, bulls overturned the EMA Ribbons in favor of optimistic actions. Meanwhile, ETC saw an almost 38% ROI over the past six days. From here, the 20EMA remains a crucial buyers’ support to avoid patterned downside breakouts.
Ethereum Classic traded near $29.85 at this publication. The Relative Strength Index shows increasing bullishness following recoveries over the past week. Now, the indicator aims to test the range at 52 – 56 before potential near-term revival.
Axie Infinity (AXS)
Axie Infinity lost vital price levels within the past 20 days as bears dominated around the $65-mark. That had it declining by more than 40% since February 7, touching 6-month lows on February 24. The decline dragged it beneath the 20-50-200 Simple Moving Average while testing the support at $42.
However, buyers kept this barrier, triggering more than a 30% surge over the past five days. That way, AXS climbed past the MAS as the 20SMA soared above 50SMA. Any retracements from here would discover support near $54, then 20SMA.
Axie Infinity traded near $55.496 at this publication. The Relative Strength Index witnessed a sharp drop from the overbought level and moved to the equilibrium. That showed a briefly fading bearish vigor.