With market-wide retracements over the past few days Bitcoin horror and greed index As I continued to hover into the “fear” zone, I saw a slight setback. Ethereum and Dogecoin witnessed an up-channel breakdown on the 4-hour chart. Uniswap fell by marking a reversal pattern. A bullish comeback could find a barrier near the $ 11.1 mark.
Ethereum (ETH)
Below $ 4,000, ETH Bear has begun a major sale. As a result, we hit the lowest price in 6 months on January 24th.
Since then, a 51.8% ROI has been seen while violating multiple supports (previous resistance) to hit the three-week high of $ 3,200. However, ETH has recorded 11.3% retracement over the last three days. Therefore, it decomposes from the up channel (white). also, 20 SMA (Red) Move down 50 SMA (Gray), make sure the bullish edges are reduced. Currently, immediate support is at the $ 2,800 level and resistance is at the $ 3,017 mark.
At the time of the press, ETH was trading at $ 2,919.5.Bearish RSI It plummeted from that up channel (yellow). After testing the 47 mark twice, it fell into an oversold area. Just above the drop wedge (white) can lead to a test of its immediate resistance.
Dogecoin (DOGE)
Source: TradingView, DOGE / USD
Altcoin fell 44.03% (since January 14th), hitting a nine-month low on January 22nd. Since then, DOGE has recovered its previous losses in the next few weeks.
The recovery phase marked an ascending channel (yellow, inversion pattern) on the 4-hour chart. The $ 0.167 mark was strong, but DOGE saw a five-day pullback of 15.7%. Currently, the bear’s immediate hurdle was near the $ 0.143 level.Bulls can face nearby barriers 20 EMA (cyan).
At the time of the press, DOGE traded at $ 0.1466. After heading to an overbought area RSI Seeing the patterned breakout, I lost the level of 42 marks. This trajectory represents the effect of a strong bear. Moreover, AO Projected a bearish edge, showing a decline in vitality over the past day.
Uniswap (UNI)
Source: TradingView, UNI / USDT
Since falling from the $ 18.14 mark, UNI bulls have been unable to drive a sustained closing price beyond the $ 12.5 zone. alt recorded a 47.51% drop (since January 17th), hitting a year-long low on January 24th.
Since then, the UNI has been bullishly diverged from the RSI and then integrated into a rectangle (yellow) until the breakout on February 7. Nevertheless, the bear favored the $ 12.5 mark. Therefore, Altcoin has confirmed more than 18% retracement in the last 5 days and formed a descending wedge (white) on the 4-hour chart. Below the $ 10 mark (immediate support) will drive a retest of the low wedge trendline.
At the time of the press, alt was trading at $ 10.81. Since facing the hurdle near 59 points RSI I lost 40 points. While in favor of the seller, it sought to test its resistance.
