While overall sentiment still lingered around the uncertainty or fear zone, Dogecoin and Bitcoin Cash refrained from committing to a trend and limited themselves to range. Dogecoin saw a recent surge in buying pressure, but the 50 SMA hurdle held firm.
By contrast, Fantom rallied quickly after posting a 35.4% ROI last week and hit its two-month high on January 4. Now, as it looked to retest its ATH, its technical data was showing overbought readings.
FTM nullified the market-wide downtrends as it approached its long-term supply zone (rectangle, yellow). The alt saw a staggering 132.23% ROI (from the Dec 20 low) in just 15 days. With this rally, it recovered all the losses from its previous downtrend.
The altcoin formed an ascending widening wedge (reversal pattern, white) on its 4-hour chart. Immediate resistance stood at the $ 3.11 mark. Now a bearish divergence (white) between RSI and price action hinted at a possible short-term reversal.
At press time, FTM was trading at $ 3,0505. The RSI It was deep in the overbought region and confirmed the one-sided bullish force. In addition, the price fluctuated near the upper band of the Bollinger Bands (BB). Considering the overbought readings on the RSI and BB, a pullback from here should come as no surprise to investors / traders.
As we saw in the Previous article, DOGE continued its range-limited swing after a descending wedge breakout (green). The alt formed a side channel (white) on its 4-hour chart.
The meme coin secured the $ 0.1739 and $ 0.1675 mark for more than eight days. As a result, the Squeeze the momentum Black dots were still flashing, indicating low volatility. The last two green candles saw a considerable rise in volumes, hinting at a strong bullish move. Therefore, the OBV I saw a sharp point too. Now him 50-high school (red) was erected as an obstacle for the bulls to conquer it.
At press time, DOGE was trading at $ 0.1699. The RSI it sank below balance and wavered near the 44-point level. Next to ADX still shows a weak directional trend for the alt.
Bitcoin Cash (BCH)
The breakout of the bearish (yellow) flag pushed the DOT price below the 38.2% resistance. The bulls secured the 419 support, while the bears retested it several times over the past year.
Thus, the alt consolidated between the two previous levels for more than three weeks. At press time, the alt was trading below its 20-50-200 SMA at $ 430.4.
The RSI it stopped at the 42 mark after rebounding from the 38 point support. A sustained close above the middle of the line could reignite the chances of a bullish revival. While the DMI lines were on the verge of a bullish crossover, the ADX showed a weak directional trend for the alt.
This is a machine translation of our English version.
We would love to thank the writer of this article for this outstanding content
Fantom, Dogecoin, and Bitcoin Cash Price Analysis: Jan 05