Bitcoin sentiment analysis shows improvement from extreme fear to neutral within the previous month. Moreover, Bitcoin’s correlations with other crypto improved during the timeframe. That way, ADA, SHIB, and BNB highlighted bullishness on their respective short-term technicals. However, the overall directional bias requires improvements to support sturdy upside rallies.
Cardano experienced a move than 62% recovery after hitting a 1-yers low on February 24. As a result, the token regained the $1.2 level. The previous two weeks saw ADA extending its upward channel oscillation as bulls dominated.
Bulls flipped the 20EMA from resistance to support after ADA briefly lost the level. Moreover, the token saw a bullish pennant within the past five days. The 24hr gains triggered a breakout as ADA targeted the $1.2 resistance retest.
Cardano traded near $1.217 at this writing. The RSI saw exponential growth since April 1 as the support trend-line remained sturdy. Meanwhile, the nearest resistance stands within the range of 63 to 66. Surprisingly, the on-balance volume failed to match price actions over the past two days. That was due to a feeble bearish divergence.
Shiba Inu (SHIB)
SHIB buyers upheld the level seen within the past five months ($0.018) despite the massive bearish moves. Shiba Inu bulls triggered a 104% upsurge since the January lows before declining from the $0.034 long-term ceiling.
Since then, sellers dominated these highs as bulls eyed higher channels. That had SHIB printing a symmetrical tringle-like setup over the past couple of days. Now, SHIB maintains immediate support at the 50EMA.
Shiba Inu traded near $0.0266 while writing these lines. The RSI crossed the mid-line, though yet to meet the resistance at 56. Moreover, the ADA maintained a constant downswing as it highlighted significantly feeble directional bias for Shiba Inu.
Binance Coin (BNB)
Binance Coin broke down from a $512 vital level following a bearish setup on the long time frame. Multiple sell-offs emerged since then, finally halting the $324 barrier. Meanwhile, BIB saw a massive trend-line resistance on the four-hour chart.
Bulls launched a recovery from 5-month lows on February 24. That way, BNB gained 38% within the past 40 days. Moreover, the 20EMA ensured dependable support with a jump past the 50Expoential Moving Average.
While publishing this content, BNB changed hand at $447.2. The Relative Strength Index displayed lower highs within the past four days as the price secured higher highs. That unveiled a bearish divergence.