Terra, STEPN, Waves Price Analysis: April 09
Bitcoin slipped below the $44,000 area and retested it as a supply zone the day before, and there was some selling in the crypto market. Terra and STEPN trended lower on the lower timeframes, while Waves experienced a sharp decline that erased a significant portion of the gains of the past two weeks.
LUNA slipped below the resistance zone at $94.3. The Fibonacci retracement levels (yellow), specifically the 61.8% to 78.6% levels which are levels where the price consolidates before a reversal, have not seen enough demand.
The momentum behind LUNA was bearish as the IRS stood at 333, and it was likely that in the next few hours, LUNA would record further losses. The RSI has been below the neutral 50 mark for a few days, and the CME also slipped below -0.05 to show strong selling pressure. the Cumulative volume delta was also in the red.
After extraordinary gains, GMT experienced some compression over the past week as the price repeatedly retested the $2.1 support level and established a series of lower highs. The $2.1 and $2.23 are levels of near-term importance, and further north the $2.4 area would likely offer resistance.
The resistance of the last 10-day descending trendline (white) would also be a level that bulls would like to beat, in order to effect a breakout.
the IRSnext to the price, showed how the momentum has stagnated in recent days and straddled the close at neutral 50. The VOB was also relatively stable, but the volume of sales was slightly higher than that of purchases over the past two days.
WAVES was another coin that came under significant selling pressure over the past few days. The Fibonacci levels (yellow) presented the 27.2% extension level at $24.64, with a horizontal support level at $23.39 as well.
the Customer Accounting showed that the selling pressure was constant and greater than the buying, while the IRS also showed strong bearish momentum. $25.5, $24.4 and $21.6 are targets for short positions from $27 or higher to take profit.