Cardano, Litecoin, NEAR Price Analysis: Jan 04

Now, the onus was on the king’s coin to change the broader sentiment after re-entering the $ 46,000 zone. While ‘Extreme fear‘remained on the market at press time, Cardano and Litecoin showed weak short-term technical indications. Buyers needed to increase volumes to skew the momentum in their favor.

By contrast, NEAR posted exponential gains over the past day and pushed its ATH on January 4.

Cardano (ADA)

The rising ADA wedge (white) tilted after it saw a sharp pullback from near the 61.8% Fibonacci resistance at the $ 1.53 mark. As a result, it saw a 19.38% retracement from its three-week high on December 27 until the bears tested the $ 1,311 level. However, the bulls managed to shift this level from previous resistance to immediate support.

The alt was trading below the area that offered the greatest liquidity (Control Point [red]) for more than three months. Therefore, it reveals a bearish sentiment. Now, the immediate resistance was near the Checkpoint and the Fibonacci level of 38.2%.

At press time, ADA was trading at $ 1,314 after noticing a 3.28% loss in 24 hours. The RSI rebounded after a bullish divergence (white) with price action. But he couldn’t hold himself above the midline. Recently, retracement volumes have been higher than sloping volumes pointing to a weak bullish move. However the ADX showed a weak directional trend for the alt.

Litecoin (LTC)

TradingView, LTC / USDT

LTC managed to find an oscillating range between $ 167 and $ 143-makr for more than a month. Therefore, the price reversed from its immediate support which coincided with the lower trend line of the descending channel (white).

The bulls held the $ 143 support level for nearly five months, while the bears retested it several times. Now when we see a breakout in the descending channel, the immediate hurdle was near the 50-high school (cian).

At press time, LTC was trading at $ 148.4. The RSI struggled to score a convincing close above the mean line for the past ten days. He too DMI showed a bearish bias while the ADX showed a weak directional trend.

Close protocol (NEAR)

NEARUSDT 2022 01 04 12 49 33

TradingView, SEARCH / USDT

After a breakout of the descending channel (yellow) in mid-December, NEAR posted exponential gains. It jumped a staggering 113.21% from the December 20 low and pushed its ATH to $ 17.38 on January 4.

After forming a symmetrical triangle, it broke its uptrend line support (white). However, NEAR marked a 25.11% increase in 24 hours to mark its lifetime milestone. Any further withdrawals would find proving grounds in the $ 15.4 to $ 14.9 range.

At press time, the alt was trading at $ 16,645. The RSI it sank slightly below the overbought region. He too DMI reaffirmed bullish vigor. However the ADX showed a slightly weak directional trend for the alt. The recent bullish movement also marked higher peaks in the volume oscillator, indicating a healthy trend.

This is a machine translation of our English version.

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Cardano, Litecoin, NEAR Price Analysis: Jan 04

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