The latest market-wide crash had Bitcoin and most alternative tokens plunging towards their yearly/month lows on May 12. The market dipped into a compression phase in the last 11 days, sparing few exceptions.
Meanwhile, the past day had bulls provoking brief surges in trading volumes. That had most assets attempting to escape low volatility phases and reclaim crucial price points.
Chainlink (LINK)
LINK bears dominated after pulling a 180 from Chainlink’s April peaks around $18. The altcoin saw multiple lower highs since the fallout. Meanwhile, sellers reclaimed new resting levels before propelling 22-month lows on May 12, following a 55% decline within five days.
The Pitchfork presented a crucial value area within the last month, following a break beneath the downside channel. Meanwhile, the latest gains had bulls challenging the hurdle around Pitchfork’s bottom boundary.
Chainlink traded near $7.48 at this publication, 6.24% up within the past day. The RSI changed its outlook in buyers’ favor within no time. However, the Chaikin Money Flow chalked lower highs within the past day, disagreeing with the latest upticks. That had the CMF on a bearish divergence, which might impact the token’s near-term movements.
VeChain (VET)
VET sellers dragged the token towards $0.02, following rebounds from the ceiling at $0.08 on March 31. The bearishness took VeChain to levels seen in January 2021. The alternative coin lost more than 73%, and it plummeted to 15-month lows on May 12.
Buyers secured a spot beyond the BB’s basis line following several challenges. The Bollinger Bands aimed to break the narrowed phase as the upper and lower BB bands stood at opposite sides. While writing this content, VET traded at $0.03369.
The RSI experienced a steady northward comeback beyond the midline while climbing from the support at 39. Also, the Chaikin Money Flow confirmed a possible bearish divergence with the VET price.
EOS
The alt lost more than 50% from the April peaks, devaluing the yearly lows on May 12. As the value area at $1.2 ensured massive lower price rejections, EOS formed a bearish pennant on its 4hr timeframe.
The rebound from $1.2 after predicted breakdowns had EOS snapping the month-long trend-line support. That saw the coin jumping beyond the 20 Exponential Moving Average and 50EMA. EOS changed hands near $1.382 at this publication, 4.72% up within the past day.
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