While the broader market refrained from high volatility in the past 24-hours, Cosmos and Fantom eyed to retest their ATH level. Their near-term technicals chose the buyers. But both their CMFs could barely cross the equilibrium.
Similarly, Tron saw overbought readings on the Bolinger bands and saw a near-term pullback.
Tron (TRX)
Source: TradingView, TRX/USDT
The buyers finally stepped in and initiated a patterned breakout after TRX poked its five-month low on 10 January. Since then, the alt grew by nearly 13.9% and found near-term resistance at the 38.2%, 50% Fibonacci level.
Now, the immediate resistance stood near the upper band of the Bollinger Bands. Although the bulls reclaimed the vital $0.0669-mark support, the CMF did not mark higher peaks and wavered near the zero-line. This reading meant the buying pressure could not correspond to the price increase.
At press time, TRX traded at $0.06938. After breaking out from the midline, the RSI finally crossed the 59-mark. But at the time of writing, it seemed to lose its vigor.
Cosmos (ATOM)
Source: TradingView, ATOM/USDT
After retesting the $32.5-support for over seven weeks, the bulls finally initiated a sustained inverse head and shoulder breakout on 1 January.
The alt jumped by over 35% (from 1 January) and poked its 15-week high on 7 January. This incline helped ATOM reclaim its long-term 23.6% Fibonacci support at the $36-mark.
The alt formed an ascending broadening wedge (reversal pattern, white) on its 4-hour chart over the past month. Now, as the 20-SMA (red) crossed its 50-200 SMA, ATOM depicted an increasing buying influence.
At press time, ATOM traded only 2.6% below its ATH at $43.48. The RSI flashed a bullish bias byconsistently marking higher peaks. It now aimed to
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