As the Bitcoin fear and greed index saw an 11 point surge, the crypto market entered a green zone in the last 24 hours. Ether saw a nearly 4% 24-hour gain that helped it cross the 20-SMA barrier.

After Elon’s tweet, Dogecoin jumped to reclaim the $0.145-mark. Also, Aave’s 4-hour RSI saw a patterned breakout but still could not cross the midline. However, to have a sustainable rally, the bulls still had to gather enough volumes.

Source: TradingView, ETH/USD

While the fear sentiment in the market kept spiraling, the sellers accelerated their influence and caused a fallout on 21 January. As a result, they swiftly breached the $3000-mark and flipped it to resistance. ETH registered a 33.84% loss (from 20 January high) and touched its six-month low on 24 January.

The recent falling wedge (yellow) breakout halted at the $2,550-mark (immediate resistance). Since then, ETH bulls tested the 20-SMA (cyan) two times over the past day and finally surpassed it.

At press time, ETH was trading at $2,498.8. Following the broader sell-off, the RSI saw an impressive revival 32 point revival from its 22-month low (on 22 January). Thus, it found a close above the crucial 44-mark. But to confirm the buying momentum, it needed to close above the half-line. Also, MACD‘s histogram found a close above the equilibrium. This reading hinted at the decreasing bear influence.

Source: TradingView, DOGE/USD

DOGE saw an exceptional 55.94% ROI (from 10 January low) and touched its month-long high on 14 January. Since then, the sellers stepped in at $0.1919-mark. As a result, the altcoin saw a 41.18% retracement and hit its nine-month low on 22 January.

As the bulls defended the $0.1262-level, DOGE saw an over 15% gain (since 22 January low) and reclaimed the