Wednesday’s early trading sessions had Bitcoin rallying from $38.4K to levels beyond $41.5K. That had the altcoin market on upside moves. EOS and Solana were among the alts that flipped their near-term bearish market structure to bullish. Meanwhile, VeChain maintained critical support, contemplating an upside move to $0.051.
EOS tested the support floor of $1.885 within the past few days. Such actions printed a bullish divergence on the crypto’s hourly timeframe. However, the Relative Strength Index recorded higher lows even when EOS price registered lower lows.
That indicated a weakening strength for bears. Moreover, the alt broke a trend-line resistance over the recent hours. Also, EOS overcame the latest lower peak at $2.02 and last week’s downward trends.
EOS seemed to flip the $2.05 value area to demand from the supply. Though the Relative Strength Index stayed within the overbought region, the coming few days might see the alt registering further gains. Nevertheless, a session close under $2.02 would invalidate the token’s bullish scenario.
Solana is another alternative token that broke a bearish bias since early March. The breakout emerged within the latest hours. The altcoin has used the $81.1 level as its long-term foothold, and the prices bounced off this zone again. SOL upswings might meet stiff resistance at $93.4.
The Awesome Oscillator (AO) has hovered near the zero line within 24 hours. Recently, the indicator climbed past the zero line and displayed an upside momentum. The on-balance volume also climber higher over the recent hours. While publishing this article, OBV was yet to overpower its latest local peak.
Analysts drew Fibonacci retracement zones for VeChain’s rebound in late February. It revealed $0.046 was 61.8% retracement for the move. The alternative coin secured support near $0.046 and surged higher.
Or now, $0.049 and $0.05 zones remain critical for bulls to claim in the short term. Meanwhile, a move beyond $0.051 would indicate further upside for VET, climbing to the local highs around $0.057.
Price actions within the altcoin market would rely on broad market sentiment plus Bitcoin’s directional bias. Despite overnight gains, the crypto spectrum is yet to confirm steady upsurges. Enthusiasts should remain patient when interacting with the market now.