Chainlink, Fantom, MANA Price Analysis: 12 January
After poking its seven-week high on 11 January, Chainlink formed a bearish divergence with its 4-hour RSI.
Contrarily, Fantom saw a V-shaped recovery after flashing bullish near-term technicals. MANA also displayed a bullish bias after crossing its 20/50 SMA but could not back it up on increased volumes.
TradingView, LINK/USDT
Since the up-channel (yellow) breakdown on 3 December, LINK bulls retested the $22.42-level four times over the past month. They finally breached this level after the falling wedge (green) breakout resulted in two up-channels over the past 12 days.
LINK noted a 50.2% ROI (from 1 January low) until it poked its seven-week high on 11 January. The alt flipped the $25.7 support from resistance (for nearly 40 days).
The volume Oscillator marked lower peaks, indicating a weak bullish rally over the past few days.
At press time, LINK traded 49.3% below its ATH at $26.48. The price saw exponential gains while the RSI marked lower peaks, revealing a bearish divergence. Further, the AO chose the buyers but saw lower highs, reaffirming their decreasing strength.
TradingView, FTM/USDT
After forming a bearish divergence (white), FTM price action reversed from its supply zone (rectangle, yellow).
The ascending broadening wedge (white) saw a break down after FTM poked its two-month high on 5 January. Since then, the alt lost nearly 34.1% of its value to find testing grounds at the $2.09-mark. From here, it regained more than the value it lost after in a V-shaped recovery (yellow). The alt gained 34.2% from the 10 January low until press time.
At press time, FTM traded at $2.8461. The RSI steeply surged and looked turned its back on the overbought territory. Further, the DMI flashed a bullish bias too. However, the OBV
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