The crypto markets are consolidating within a narrow range as the Bitcoin price remains stuck around $29,300. The recent bullish push lifted the price above the interim resistance, but the bulls failed to hold the rally above the gains. As a result, the price slipped while the popular altcoins continued to display bullish momentum. Other than Ethereum, altcoins like, Sushiswap (SUSHI), EOS (EOS), Chromia (CHR), and Hedera (HBAR) are closer to displaying a magnificent breakout.
Sushiswap (SUSHI)
Sushiswap has been trading within a falling wedge for over a year, and the recent price action has lifted the price from the lower support to close to the upper resistance. The price is required to clear the interim resistance at $0.918, which may clear every obstacle to reaching beyond $1. Once the price settles above $1, then the SUSHI price could rise quickly to regain its levels above $3.
Chromia (CHR)
The Chromia price has also remained stuck within the falling wedge. The current trade setup indicates the price is about to get compressed to a large extent as it is facing some bearish pressure at the resistance. Also, it faced a minor pullback after testing the 50-day MA in the daily timeframe. Therefore, if the bearish pressure intensifies, then the CHR price may drop towards the lower support and trigger a healthy rebound that may break above the wedge to reach $0.12 and later $0.15.
EOS (EOS)
The EOS price has approached a crucial juncture, and unfortunately, the bearish pressure appears to have accumulated. Therefore, the price is set to undergo a bearish pullback to reach the lower support at $0.70, which may offer a strong base to trigger a healthy rebound. However, the rebound may certainly fail to keep up the bullish momentum as it could approach the second barrier at $0.75, which may keep the price restricted for a while. After a brief consolidation, the EOS price could rise and reach the interim resistance at $0.795, and securing above these levels may pave the way for a healthy upswing ahead.
Hedera (HBAR)
The Hedera price received a huge bullish push, which has kept up the bullish momentum of the crypto over the past couple of days. With the recent price action, the HBAR price broke out from the ascending triangle and surged high to reach the upper resistance at $0.0746. However, the price continues to face some bearish action, which is expected to fade away after the bulls regain their dominance.
