By Franklin Smith
As bulls attempt to revive the situation in the crypto market, bears did not allow it as tokens had their prices battling/struggling to record breakthroughs. After buyers had an onerous November, alternative coins such as Tezos and Solana continue to flash bearishness while noting short-term surging bullish momentum.
Solana
Solana had its value increasing by more than 85% from October 12 to November 6 this year. The upswing has the alt on an ATH during November 6 sessions. However, bulls took over from there, the withdrawal phase kicking in the crypto space.
The downfall had Solana losing its price, hitting a 3-week low on November 18. Bears maintained the coin under the four-hour 50- and 200- SMA after breaking the formed uptrend. However, Solana managed to stabilize above the 20 Simple Moving Average. That was due to the bullish actions since November 18 that triggered a 10.58% 3-day ROI. However, low trading volumes accompanied the rally, thus indicating weakness by bulls.
While writing this article, SOL hovered at $212.98. The RSI saw a revival and displayed neutral sentiments, wavering near the half-line. Though the DMI showed bear preference, the Awesome Oscillator and the MACD indicated short-term plunging power. However, the ADX flashed weak directional bias.
Tezos
Tezos (XTZ) moved on a continuous downswing since recording an ATH on October 4. The altcoin withdrew diligently as the token moved inside parallel lines to the south. Bulls appeared weak to control the plunges.
The price trajectory reflected the downtrends as bears breached many support levels. Such movements had the altcoin losing around 50% of its value in about 45 days. The downbeat had XTZ touching a 10-week low on November 18.
However, Tezos managed to oblige the price trend following a bounce from the bottom channel with a 13.8% 3-day ROI. While writing this article, XTZ had its price at $5.45. The Relative Strength Index stayed around the 56-level after swaying more than 28 points in 48 hours. Moreover, the DMI depicted buyers’ preference as the Awesome Oscillator indicated the bullish strength. The altcoin might have additional room for an increase until falling into its 2-month trend again.
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