Ethereum, Shiba Inu, Terra Price Analysis: 18 January

ambcrypto.com:

While the bulls still could not alter the broader outlook, the global crypto market cap kept slackening. Consequently, Ethereum and Shiba Inu’s RSI saw confirmed double-top after a sharp plunge below their supports. However, Ethereum’s CMF bullishly diverged with its price.

Shiba Inu also saw an oversold position, but its OBV seemed hopeful for the investors/traders. 

Source: TradingView, ETH/USD

The bearish rally finally seemed to stall after the alt bounced back from its long-term support at the $3,000-level. After poking its 15-week low on 10 January, the king alt grew by nearly 17% but saw a pullback from its immediate supply zone (rectangle, yellow).  

The altcoin witnessed multiple red candlesticks over the past day after a big engulfing stick on 17 January. As the buyers failed to step in, bulls flipped the $3,239.8-mark from support to resistance.

At press time, the alt traded at $3,171.3. After the RSI fell below the 44-level, it confirmed the Double-top pattern on its 4-hour chart. Thus, it flashed weak signs as it plunged toward the oversold mark. Interestingly, the CMF was in an uptrend and bullishly diverged with the price action. This reading reignites a bullish comeback possibility.

Source: TradingView, SHIB/USD

The recent falling wedge (yellow) breakout found it difficult to breach the $0.00003411-mark as the 61.8% Fibonacci resistance stood strong. Although the bulls strove hard, the 5 January sell-off saw an over 22% retracement until SHIB poked its three-month low on 10 January. 

Then, the meme token saw an exceptional rally and recovered its previous losses, but the 50% resistance stood strong. Over the last six days, the alt was down by over 16%. The immediate testing point for the bulls stood at the 38.2%