{"id":266417,"date":"2024-03-17T09:59:32","date_gmt":"2024-03-17T04:29:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=266417"},"modified":"2024-03-17T09:59:32","modified_gmt":"2024-03-17T04:29:32","slug":"bulls-maintain-dominant-position-near-term-might-be-pressure-coming-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bulls-maintain-dominant-position-near-term-might-be-pressure-coming-crypto-news\/","title":{"rendered":"Bulls maintain dominant position, near-term might be pressure coming &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>The pair met strong resistance at the 20-day SMA, which in case of conquering it, will confirm a bullish bias.<\/strong><\/li>\n<li><strong>The daily chart indicators suggest a strengthening upward momentum with the RSI jumping above 50.<\/strong><\/li>\n<li><strong>The hourly RSI hovers in the overbought territory, a potential sign of short-term buyer exhaustion.<\/strong><\/li>\n<\/ul>\n<p>In Friday&#8217;s session, EUR\/JPY trades with gains at 162.27, marking a 0.54% rise in attempting to conquer the 20-day Simple Moving Average (SMA). The bulls seemingly hold a strong grip, as the buying momentum appears to intensify. Yet, the sellers might come into action as the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/indicators\" data-fxs-autoanchor=\"\">indicators<\/a> flash overbought signs on the hourly signs.<\/p>\n<p>Based on the indicators of the daily chart for the EUR\/JPY pair, the Relative Strength Index (RSI) has moved into positive territory, suggesting a stronger upward momentum. Meanwhile, the downturn of the Moving Average Convergence Divergence (MACD) histogram prints shortening red bars, arguing in favor of a stronger bullish grip.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/JPY daily chart<\/h2>\n<\/p>\n<p>Turning to the hourly chart, the RSI seems to be hovering in the overbought territory. Despite a strong upward trend, this indicates potential exhaustion from the buyers. Similarly, the MACD&#8217;s decreasing green bars might be signaling a shift in the tide, turning favor towards sellers for the short-term period.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/JPY hourly chart<\/h2>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_EUR_JPY_2024-03-15_14-54-10-638461220949470691.png\" \/><\/p>\n<p>Given that the pair remains above the 100- and 200-day SMAs, yet below the 20-day SMA, it gives mixed signals regarding the broader market control. Thus, an interplay of daily and hourly charts suggests an uphill battle with the bulls maintaining control in a larger context, albeit facing potential near-term pressures.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The pair met strong resistance at the 20-day SMA, which in case of conquering it, will confirm a bullish bias. The daily chart indicators suggest a strengthening upward momentum with the RSI jumping above 50. The hourly RSI hovers in the overbought territory, a potential sign of short-term buyer exhaustion. In Friday&#8217;s session, EUR\/JPY trades [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":9408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,298,257,276,951,255,250,252,247,253,249,256,254],"class_list":["post-266417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-crosses","tag-cryptocurrency","tag-currencies","tag-eurjpy","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/266417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=266417"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/266417\/revisions"}],"predecessor-version":[{"id":266419,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/266417\/revisions\/266419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/9408"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=266417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=266417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=266417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}