As the general sentiment improves, the alt king rebounded from the 61.8% Fibonacci support and crossed its 4-hour 20-hour SMA.
On the other hand, Terra jumped above its 20-50-200 after regaining its 38.2% support level. Although Ethereum, Shiba Inu, and Terra all noted double-digit gains from their long-term supports, they needed to back it up with enough volumes to confirm a strong move.
After hitting its 15-week low on Jan 10, ETH rebounded from the 61.8% Fibonacci support and grew over 10.7% in the last two days. ETH rallied after the price diverged higher with the RSI.
Although King alt had not yet claimed the 50% support level, it found a close above the 20-high school (red) and the $3,200 level. From here, the next hurdle for ETH bulls was in the 50-high school (cian).
It also becomes vital to take note of the lowest peaks in the volume oscillator, indicating the weakness of recent gains.
At press time, the alt was trading at $3,250.4. The RSI it was in an uptrend and finally crossed the 43 mark on the last day. Now, it stood for optimism and looked to test the 58-point resistance. While MACD histogram showed a greater buying influence, its lines remained below balance.
Shiba Inu (SHIB)
The recent breakout of the falling wedge (yellow) found it difficult to break the $0.00003405 mark as the alt was seeking the most liquidity near this area for almost the last six months (Checkpoint, red).
In recent days, SHIB oscillated between two parallel lines to the south (white) and reached its three-month low on January 10. While securing $0.00002622, the bulls started a two-day rally of 10.9% in an attempt to reclaim the crucial $0.000029114 mark.
At press time, the alt was trading at $0.00002882. The RSI it finally closed above the midline and showed a bullish bias. Interestingly, the Compression Boost Gauge hinted at a phase of low volatility. Similar to ETH, the volume oscillator Marked during the recent slope, suggesting a weak move up.
Since hitting its three-week low on Jan. 8, the alt has seen an impressive 24.11% rally after bouncing from the 61.8% level.
LUNA reclaimed the 50% support level, 38.2% and crossed the 4-hour barrier. 20-50-200 MSM. Now, the immediate test point for the bulls was at the $80.8 level. Any failure would find testing support at the $74.9 level.
At press time, LUNA was trading 24% below its ATH at $78.6. The RSI showed signs of improvement after a sustained close above the midline. Meanwhile, the supertendencia finally a green signal flashed. However the OBV it failed to post a corresponding peak with the recent rise, suggesting weak buying pressure.
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Ethereum, Shiba Inu, Terra Price Analysis: Jan 12