With Ethereum breaking its immediate resistance at the $ 3,700 mark during the previous day, Polkadot saw a 1.5% gain in 24 hours at press time. Even so, the Fibonacci resistance of 38.2% remained an obstacle to the recovery phase of Polkadot and Bitcoin Cash.
On the other hand, Dogecoin continued its consolidation with slight bearish trends.
Although the DOT noted an upward slope of the wedge (white) of nearly 40% (from the low on Dec. 20), it marked lower peaks since Nov. 16. Then, the 19.95% retracement after the three-week high on December 27 found immediate support at the $ 26.12 level.
After retesting it three times over the past five days, the 38.2% resistance held strong. However, when the alt jumped over his 20-50-200 SMA, the distance 50 SMA (yellow) crossed the 200 SMA (cyan), hinting at bullish trends.
In terms of the strength of its recovery, volumes experienced a jump of 75.9% in 24 hours. This indicated a healthy recovery.
At press time, the alt was trading at $ 29 after noticing a 10.75% ROI in just three days. The RSI saw a solid recovery and managed to find a close above the midline. He too DMI hinted at bullish vigor while the ADX showed a weak directional trend.
DOGE consolidated after breaking the descending wedge (green) on its 4-hour chart. The last red candle witnessed substantial retracement volumes, indicating a strong bearish move. Post a breakdown of the ascending channel (yellow), the DOGE bears have secured the oscillating range of $ 0.1919 and $ 0.1675.
In addition, the Press the moment indicator black dots flashed as they hinted at a phase of low volatility. Now any further pullbacks should find test support at the $ 0.1675 level.
In addition, it traded close to its Control Point, which offered the highest liquidity for almost the last two months. At press time, DOGE was trading at $ 0.1716. The RSI sank below balance and found support at the 44-point level. Next to ADX it was in a downtrend and showed 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 mark, 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. Meanwhile, the Supertendencia once again he gave a sell signal. At press time, the alt was trading at $ 442.8.
The RSI It stopped at the 52 mark after showing some signs of revival. A sustained close above 58 could ignite the chances of breaking above the 38.2% Fibonacci level. While the DMI The lines were on the verge of a bearish crossover, the ADX showed a weak directional trend for the alt.
This is a machine translation of our English version.
We want to give thanks to the author of this article for this amazing content
Polkadot, Dogecoin, and Bitcoin Cash Price Analysis – Jan 03