While most altcoins began their revival after witnessing a harrowing 2020, some altcoins still struggled to stay afloat. Over the past few days, the world’s second-largest cryptocurrency, Ethereum [ETH], along with coins such as Lisk [LSK], posted gains, while NEM [XEM] wasn’t so fortunate.
Ethereum [ETH]
Source: ETH/USD, TradingView
Ethereum’s 2020 wasn’t as eventful as many would have expected. Just recently, Ethereum registered 2020’s second-largest dip in terms of its funding rate. Over the past few days, the price of Ethereum seemed to have gained a bit of upward momentum as the coin’s value increased by close to 9 percent.
At press time, Ethereum’s price was $131 and had a market cap of $14 billion. If the price were to continue on the same trajectory, ETH was likely to breach the resistance at $139. However, if the price does fall, there are two points of support at $122 and $110.
According to the MACD indicator, a bearish crossover was a certainty. The RSI indicator also echoed bearish sentiments as it was headed towards the oversold zone.
Lisk [LSK]
Source: LSK/USD, TradingView
Lisk saw much-needed revival over the past 48-hours as the coin surged close to 10 percent. The price of LSK was $0.94, at press time, and had a market cap of $116 million. However, the price of LSK seemed to be very close to testing the support at $0.93. If the bullish sentiment were to sustain, LSK’s price would be on course to test the resistance at $1.06.
According to the Bollinger Bands, after a period of high volatility, LSK had stabilized. The moving average was just below the price and was acting as support. After witnessing a bullish crossover, the MACD indicator was also heading towards a reversal as the signal line was likely to soon go over the MACD line.
NEM [XEM]
Source: NEM/USD, TradingView
Just recently, NEM was in the news as its developers released standards for the issuance of security tokens. Out of the three altcoins, NEM was…
