Shiba Inu, Polkadot, Uniswap Price Analysis: 12 April

ambcrypto.com:

With the global cryptocurrency market noting a correction of sorts over the last 24 hours, Shiba Inu bears flipped the long-term trendline support to resistance.

Similarly, Polkadot displayed a selling edge while its RSI moved along the oversold territory. Also, Uniswap corresponded with the overall bearish outlook and remained restricted below key resistance areas.

Shiba Inu (SHIB) 

Source: TradingView, SHIB/USD

On its way up from its January lows, SHIB buyers pivoted the broader outlook in their favor. But the sellers ensured to keep the peaks under their influence ever since. (price is multiplied by 1000 from here, for simplicity)

The buyers did take charge of the five-month support from the $0.018-mark. SHIB bulls initiated a rally that led the alt to double its value before retracing from its long-term ceiling of $0.034-level. During this correction, it marked a falling wedge (yellow, reversal pattern) on its 4-hour chart.

At press time, SHIB traded at $0.02286. After witnessing a bullish divergence with price, the RSI saw a substantial recovery. A close above the 40-mark resistance would brace the RSI for a midline retest.

Polkadot (DOT)

Source: TradingView, DOT/USDT

The previous bearish phase (from its ATH) led the alt to lose more than 74.5% of its value and plunge toward its seven-month low on 24 February.

However, the recent bullish rally marked bullish trendline support (now resistance) (white, dashed) while the alt tested the $23-mark. At the $23 resistance, DOT witnessed an expected rising wedge breakdown. This steep downslide transposed into a descending channel (yellow).

At press time, DOT was trading at $17.64. The RSI struggled to recover from the oversold mark yet.In the current scenario, the sellers have claimed