Entry area (buy low):

The cryptocurrency market showed mixed movements in Asian trading on Thursday, with LINK and ATOM showing strength, while ADA and MATIC faced selling pressure.

Link (LINK) led the gains with a 2.4 percent rise, as the price broke through the resistance at $5.8 to reach $5.9. The token was also supported by positive technical signals, such as the MACD showing a positive crossover and the RSI moving above the oversold zone.

Atom (ATOM) followed closely with a 1.9 percent increase, as the price tested the key support at $11.8. The token was vulnerable to further declines if the support is breached, but it was also poised for a rebound if the sellers are exhausted.

On the other hand, Ada (ADA) saw some profit-taking after the recent rally, leading to a 1.3 percent decline. The token was still trading above the 200-period moving average on the 4-hour chart, which suggested that the bullish trend was intact.

Matic (MATIC) fell the most by 0.9 percent, as the price slipped below the 0.17 level. The token was facing resistance from the 127.2 percent Fibonacci retracement from the March low to the April high.

Other notable movers included:

* Btc (BTC) was down by 0.1 percent at 66430, trading below the 200-period moving average on the 4-hour chart.

* Eth (ETH) rose by 0.3 percent to 1961.7, testing the resistance at 1950.

* Bnb (BNB) decreased by 0.2 percent at 216.6, supported by the direct support at 215.

Technical analysis:

* Link (LINK): The price is in a downward trend over the past 24 hours after rebounding from the peak at 0.18447.

* Rsi (6) = 44.05: Near the oversold zone, indicating a possibility of upcoming bullish reversal.

* Macd = 0.00002: Shows slight positive crossover, but momentum is still weak.

* Stochastic indicator k = 33.23 and d = 27.11: Signal of potential upcoming bullish crossover.

* Current lowest support = 0.167: Should be monitored as a strong area for any rebound.

Confirmation of upward movement:

If the price can break the 0.1755 level with a strong candlestick close on the hourly timeframe, we may see a move towards 0.1815 again.

Entry area (buy low):

0.170 - 0.173

Targets (in case of rebound):

First target: 0.1755

Second target: 0.1785

Third target: 0.1815

Stop loss:

0.167

Risk management:

Take partial profits at each target and gradually move the stop loss.

Losing support at 0.167 indicates weak momentum and a return to the downward trend.

My opinion:

The currency is currently in a corrective phase, with slight technical signals hinting at a possible rebound. Short-term traders can exploit current entry levels, but caution is advised while waiting for confirmation of upward movement through breaking resistance at 0.1755.

Stay tuned for more crypto news and analysis.

.