Ethereum, Dogecoin, MANA Price Analysis: Dec 24

As Bitcoin re-enters the $ 51,000 zone, Ethereum re-crossed the $ 4000 mark while Dogecoin managed to break through the 23.6% Fibonacci resistance. Additionally, MANA broke the $ 3.64 mark.

However, the overall trend still needed to be supported with high volumes to confirm a strong reversal.

Ethereum (ETH)

Source: TradingView, ETH / USDT

On its 4-hour chart, ETH broke out after a one-month falling wedge when the trend reversed forming an ascending (white) channel over the past week. The largest altcoin saw an expected pullback after a bearish divergence (between RSI and price action, blue).

The ETH demand zone and the lower channel supported this pullback as the price rallied. As a result, it experienced a 6.3% jump on December 23 as the bulls broke out of the $ 4,000 level. They managed to keep the price above this level after testing it for the fifth time in the last 10 days.

Now, the immediate resistance was at the $ 4,156 level which coincided with the upper channel and the 200-SMA (green).

At press time, ETH was trading at $ 4,080.38. The RSI it passed the 59 mark for the first time since December 1, but saw a sharp decline after some signs of relaxation. However the OBV It didn’t seem to keep up with the uptrend as it was historically higher at the $ 4,150 level.

Dogecoin (DOGE)

Over the past day, DOGE crossed its 23.6% Fibonacci resistance after a 6.23% incline from the December 22 low. The bulls apparently gained more traction after Elon Musk once again favored the coin-meme in a tweet reply.

But the rally stopped at the immediate resistance at $ 0.182, which warrants the previous oscillating range ($ 0.162 to $ 0.182). Considering the uptrend of the volume oscillator, DOGE could find immediate support at the trend line (yellow). However, recent retracement volumes have been higher than sloping volumes. Any other break could see support at 20-senior High School (blue).

At press time, DOGE was trading at $ 0.1817. The RSI saw a drop in the overbought region and stood at the 61 mark. Press the moment indicator gray dots flashed, hinting at a phase of high volatility.


MANAUSDT 2021 12 24 13 19 20

Source: TradingView, MANA / USDT

MANA halted its decline at its month-long support at the $ 3.02 mark. The alt experienced a persistent decline after reaching its ATH on November 25. As the price rebounded from this level, it saw an ascending channel over the past week.

On December 23, the alt marked a jump of 19.49% breaking the two-week support level of $ 3.64 (previous resistance). Then, it saw a pullback as the upper channel coincided with the 200-SMA (green) and took on strong resistance.

At press time, MANA was trading at $ 3,681. The RSI saw a 20 point rise towards the overbought region and showed signs of reversal now. However the OBV it did not go up enough to match its previous high at the same price.

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Ethereum, Dogecoin, MANA Price Analysis: Dec 24

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