Chiliz, Harmony, Loopring Price Analysis: 04 May

ambcrypto.com:

After a ripple effect of Bitcoin’s close above its 4-hour 20 EMA and 50 EMA, the broader market reacted by stalling major sell-offs. Chiliz, Harmony, and Loopring took off from their multi-month lows in the past three days. An inability to break the bonds of their immediate resistance would lead these altcoins to witness extended bearish movements.

Chiliz (CHZ)

Source: TradingView, CHZ/USDT

CHZ emulated its fellow alts and observed an upsetting trajectory over the last month. It recorded a nearly 50% downswing from its three-month high on 30 March. This devaluation led CHZ to give up its nine-week trendline support (now resistance) (white, dashed).

After rising from its two-month bottom on 1 May, CHZ chalked out an up-channel (yellow) on the 4-hour timeframe. With the EMA ribbons constricting all the recent bull runs, the bears projected a superior edge in the current scenario.

At press time, the CHZ was trading at $0.1844. The RSI resonated with price movements while aiming to find a close above the 50-mark. But with the weak readings on its ADX (red), CHZ unveiled a rather weak directional trend.

Harmony (ONE)

Source: TradingView, ONE/USDT

The latest slump led ONE to shed over 46% (from 20 April) of its value until it touched its nine-month low on 1 May. The revival rally from this point formed a bearish pennant on the 4-hour timeframe. 

Since breaking out from its previous down-channel, the bulls could not sustain a rally beyond the $0.13-level. Since then, ONE lost its vital $0.08-mark support as sellers flipped it to resistance. Now, the $0.07-mark is vital for bulls to defend to prevent further fallout.

At press time, the alt was trading at $0.8339. The RSI wobbled near its equilibrium area while taking on a neutral stance.