While the bulls tried to distort sentiment in their favor, the bears managed to give up their advantage as the crypto fear and greed index stayed below 40.
Ethereum hits $ 4,100 while Solana climbs above the key level of $ 192. Fantom has made incredible profits after a long-term turnaround.
Ethereum (ETH)
TradingView, ETH / USD
On the 4-hour chart, ETH saw a turnaround in the last week when it broke out of a falling wedge that had been falling for months. It has been oscillating on a rising channel since December 17th after hitting $ 4,000. The bulls managed to keep the price above this level after testing it a number of times and repeatedly making higher lows.
However, the rally ended at $ 4,156 behind months of bearish divergence (Green). This level also coincides with the top (white) and 200-SMA (gray) channels. Now immediate test support is at USD 4,000 and the 20 SMA (red).
At the time of writing, ETH is trading at USD 4058.6. the RSI saw a pullback after hitting a three week high but hovering above half the mark. However, OBV has been oscillating around the same area since December 13th and is clearly out of step with the uptrend. ETH’s broader directional strength also remains weak ADX.
Solana (SOL)
TradingView, SOL / USD
SOL rose sharply after seeing a head and shoulders reversal on its 4 hour chart. Alt is up more than 10% from the December 23 low when it topped the $ 192 mark. The bulls have been testing this level for the past three days while marking lower levels. In the meantime, Super trend flashing buy signal.
The rise has stopped at the resistance at $ 196.3 while immediate test support is near the $ 192.6 level.
At the time of writing, SOL is trading at $ 193.9625. the RSI moved north after marking a four-day low. More, DMI confirm the previous readings, but the ADX shows a slight deviation in direction. Besides that, Volume oscillator marked a lower high since December 13, suggesting buyers are not yet in full control.
Fantom (FTM)
TradingView, FTM / USDT
FTM has seen a solid turnaround as price action has risen more than 66% in the past four days (from December 20th low). This rise broke resistance on the long-term trendline (green).
Alt continued to decline after reaching ATH on October 28th. However, the bulls secured $ 1.25 support as it rebounded and topped the $ 1.90 level.
At press time, the Alt is trading near its supply zone at $ 2.1281. the RSI has entered deep into the overbought zone, while there is a risk of a trend reversal in the short term. Besides that, POND clearly represent a one-sided bullish effect. However, the volume oscillator failed to mark higher lower lows, suggesting a weak upward move.