While Bitcoin’s 4-hour 20 SMA jumped above its 50 SMA, the crypto-market registered a decent recovery over the past three days. Consequently, Polkadot and Tezos saw bullish patterns on their charts.
On the other hand, Aave seemed to consolidate in an up-channel while forming a bearish flag. However, Polkadot and Aave still struggled to gather trend committing volumes.
Source: TradingView, DOT/USDT
After oscillating sideways for nearly seven weeks, the 21 January sell-off led DOT to lose its oscillating range of $29.9-$23.11. Since then, the bears have taken over as they flipped the $23.11-mark five-month support to resistance.
The altcoin rushed to touch its 25-week low on 24 January, post a 38.34% decline (from 20 January). Over the past few days, DOT formed an ascending triangle (white) on its 4-hour chart as the bulls exerted increased pressure.
At press time, the alt was trading at $18.92. The RSI stood at the 55-mark. After testing the oversold region, it saw a nearly 39 point revival and crossed the midline. While being in congruence with the price, for the most part, the immediate support stood at the 50-mark. Further, the CMF managed a recovery above the midline and displayed a bullish bias. However, the OBV still could not topple its immediate resistance.
Source: TradingView, XTZ/USDT
Ever since breaking down from its up-channel (white) on 7 January, XTZ bears took over. They breached the $3.8-mark five-month resistance (previous support). XTZ registered a 51.6% decline (from 5 January) and hit its six-month low on 24 January.
Like DOT, XTZ also pictured an ascending triangle over the last few days. Then, the patterned breakout found resistance at the $3.48-level. Now, the testing point for the bears stood at the
Read more on ambcrypto.com