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Technical analysis

LINA, HIVE, SKALE Network Price Analysis: 27 April

LINA, HIVE, SKALE Network have been among the alts impacted by the falling market. The altcoins have been plunging and the trends have vastly changed across the market.

LINA

LINA price has been following the trend of the largest altcoin Ethereum [ETH] and surged to its annual peak of $0.0891 in the previous week. However, the price has slipped by 50% since and the current value of LINA was $0.063.

This falling value of the digital asset has given way to a more bearish trend. As volatility remained high, selling pressure has also remained high. This was reflected in relative strength index moving towards the oversold zone. This hinted at an extended period of bearishness.

HIVE

Like Bitcoin, HIVE was also falling. The digital asset noted a peak at $0.32 on 16 April before it witnessed a correction. Although the correcting price found support at $0.6262, the following pressure from the alts pushed the price even lower.

The HIVE price has continued to trend lower and hit support at $0.32 and bounced back. Currently, it was trading in a bearish market at $0.79, with high volatility. Meanwhile, it was moving away from the equilibrium zone and toward the oversold zone. As the bearishness persists, the coin may face a difficult time making back up.

SKALE Network [SKL]

The SKL price has been rapidly moving higher despite the selling pressure. Even when the rest of the market was trying to fight off the bears, SKL did not face a major correction. The price slipped from $0.36 to $0.45, but the market was still fairly bullish.

This bullishness was indicated by the signal line which stood under the candlesticks. The relative strength index noted that the correction helped the asset return to the overbought zone. Now that it was moving towards equilibrium, SKL price may find stability. Similarly, Chaikin Money Flow was indicating that more money was flowing into the SKL market, which was a bullish sign.

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