Last week, Ethereum and Chainlink showed a reasonable recovery while hitting a two-week high on December 24th. Ethereum seems to hold the $ 4,000 mark and now strives to test its immediate resistance.
SAND touched a three-week high on December 26, after forming an ascending wedge pattern.
Ethereum (ETH)
Over the last nine days, ETH has oscillated in the upchannel (white) and has regained support for the significant $ 4000 mark.
ETH rose almost 11.9% (from the low on 17th December) and hit a two-week high on 25th December. The Bulls were able to maintain a price of over $ 4000 Bears have been tested twice in the last two days.
Larry continued to find resistance with a $ 4,156 mark that matched the upper channel (white) and 200-SMA (green). Currently, immediate test support was at the $ 4,000 level.
At the time of press, ETH traded at $ 4,038. The RSI After hitting 66 points, a pullout was seen and shook near the 48 mark.However OBV It did not correspond to the uptrend. Also, the strength of ETH’s broader direction is ADX..
Sandbox (SAND)
TradingView, SAND / USDT
Since December 5th, SAND has fallen to the down channel (yellow) on the 4-hour chart. When the bull tested the upper channel multiple times, he eventually saw a down channel breakout.
The SAND Bulls regained significant $ 6.03 support after forming an ascending wedge (green, inverted pattern), surpassing 38.2% Fibonacci resistance. As a result, it hit a three-week high on December 26th.
Now, 61.8% Fibonacci I stood as a strong resistance. For a breakdown from here, you’ll see test support near the $ 6.03 level.
At the time of the press, alt traded at $ 6.7141 after noting a 24-hour rise of 7.35%. The RSI At the 71 mark, it showed a bullish bias. Given the threat of overbought RSI and the reversal pattern, it is not surprising to witness a short-term setback.
Chain link (LINK)
TradingView, LINK / USDT
After witnessing the collapse of the bearish rising wedge on December 9, pricing behavior has been transposed on the down channel, testing immediate support for nearly $ 17.7 almost seven times over the past 13 days. However, Altcoin has recorded a 29.68% slope from its December 15 lows in the last 11 days.
During this phase, LINK Double bottom I saw the expected breakout on that 4-hour chart. therefore, Super trend Continued to flash the buy signal.
At present, resistance at the $ 22.2 level stood as a test point before further rises. At the time of the press, LINK was trading at $ 0.0. The RSI It shook near the 63 mark, hinting at a bullish taste. also, DMI He liked bulls and resonated with the bullish momentum.
