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Ethereum, Fantom, Axie Infinity Price Analysis: 07 February

After hitting a few months low on January 24, the Bulls stalled a significant sellout, reversing the short-term trajectory of most altcoins.

Ether’s short-term 4-hour SMA outperformed the long-term SMA, showing a bullish edge, but still struggling to collect enough. Fantom and Axie Infinity also saw the RSI overbought with a double-digit rise in the 24-hour post-patterned breakout.

Ethereum (ETH)

Source: TradingView, ETH / USD

Because it falls below it Control point (Red) At $ 4,000, ETH Bear has begun a major sale. As a result, ETH recorded a loss of 46.81% (from the high on 27 December) and reached a 6-month low on 24 January.

However, since then, a staggering 43.5% ROI has been seen over the last 13 days while piercing multiple ceilings. As a result, King Alto marked the ascending channel (white) and regained support for $ 3,000. Moreover, 20 SMA (Red) Crossing 50/200 SMA, Alluding to a raised bullish edge. Immediate resistance stood on the upper trend line of the channel.

At the time of press, ETH traded at $ 3,095.7. The RSI We have definitely recovered from the support of the 47 mark. While testing overbought areas, it has revived over 30 points in the last four days.Besides, one has to pay attention to the lower mountains and valleys above Volume oscillator, It depicts the movement of a slightly weak bull.

Phantom (FTM)

Source: TradingView, FTM / USDT

Bears have been under constant pressure since the FTM reversed from the $ 3.32 level. As a result, it lost nearly 48.07% (from January 17th) and was drawn to the January 24th low for the first time in a month.

Later, alt looked at the breakdown of the bearish flag testing support for $ 1.9. But with an impressive 25.4% three-day profit, it’s back to claim support for $ 2.22. In this jump, the Bulls overturned 50 SMA (red) from resistance to support.

At the time of the press, FTM was trading at $ 2.363. The RSI Rapid recovery from trendline support. Now it has moved to an overbought area that depicts a bullish bias. Moreover, DMI Biased in favor of the buyer.However ADX (Direction trend) remained weak.

Axie Infinity (AXS)

Source: TradingView, AXS / USD

After a steady downtrend, AXS has lost multiple resistance (previous support) levels in the last two months. Alt lost more than half of that price (since January 5) as it rushed south on January 24 to reach a five-month low.

Since then, a vibration range has been found between the rectangles (yellow) before the significant break occurred on February 5. AXS recorded a 57.01% increase (from the February 3 lows) while recovering the lost $ 65 support. Immediate resistance stood near the 61.8% Fibonacci level.

At the time of the press, AXS was trading at $ 70.126. The RSI When heading deep into the overbought mark, a surge of 44 points was seen in just four days. Potential slowdowns from here can occur in the near future.

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