As the crypto greed and fear index Plunged into the ‘extreme fear’ zone, ETH and Dogecoin fell below their 20-50-200 SMA. Ether struggled to cross the $ 3,766 level while SAND considered $ 5.4 as test support.
The general short-term techniques of these cryptocurrencies leaned towards the bears.
After a one-month descending wedge (yellow), the ETH bulls lost the Fibonacci support of 38.2% as the bears struggled to test immediate support at the $ 3,635 level. The ascending (white) channel rally soon came to a halt after the bulls retested the 200 SMA four times until succumbing to a wider sell-off.
ETH price action saw almost 12 red candles from the last 15 candles. The alt still didn’t have a decent chance of recovery. A convincing close above the $ 3,759 level would confirm the strength of the 11-week support (now resistance).
At press time, ETH was trading below its 20-50-200 SMA at $ 3,707. The alt king RSI It hit its all-time low at the 18 mark after falling 39 points in three days. It needed to cross the 33 mark resistance to confirm a strong reversal towards the midline.
In recent days, DOGE withdrew after encountering strong resistance at the $ 0.1919 level for almost a month. After retesting this level at least six times in the last week, the alt fell into a descending wedge (green) on its 4-hour chart.
As a result, DOGE lost the Fibonacci support of 38.2% but continued to secure the 61.8% level. Also, the recent drop pushed the price below its 20-50-200 SMA.
Now, the coin-meme attempted a reversible breakout. Trading volumes and OBV saw a corresponding peak with the last two green candles, indicating a healthy recovery attempt.
At press time, DOGE was trading at $ 0.1722. The RSI saw a rise but needed to close above the midline to confirm any reversal possibility. The Press the moment indicator now gray dots flashed, hinting at a phase of high volatility.
The sandbox (ARENA)
Since December 5, SAND fell into a descending channel (yellow) on its 4-hour chart. When the bulls tested the upper channel several times, they finally saw a breakout in the descending channel.
SAND bulls crossed the 38.2% Fibonacci resistance as they recovered the crucial support at $ 6.03 after forming a rising wedge (green, reversal pattern). As a result, it reached its three-week high on December 26.
While the 61,8% Fibonacci remained as strong resistance, there was an expected breakout from the reversal pattern. SAND posted a 14.62% decline in the last four days. Any further breakdown would find a testing ground at the $ 5.4 mark.
At press time, the alt was trading at $ 5.7951. The RSI It was at the 42 mark and showed a bearish bias. In addition, the OBV it also posted lower lows and resonated with decreased buying pressure.
This is a machine translation of our English version.
We would love to give thanks to the writer of this short article for this outstanding material
Ethereum, Dogecoin, SAND Price Analysis: Dec 30