The market leader’s inability to uphold crucial support levels has cost the mass cryptos colossally. As Polkadot tested the $23.11-mark support, DOT bulls needed to uphold it to prevent likely breakdowns. Also, MANA lost the vital $2.7-level, at the time of writing.
Although Terra managed to ensure the 61.8% Fibonacci level, it exhibited bearish tendencies.
„Polkadot“ (DOT)
Šaltinis: TradingView, DOT/USDT
DOT marked lower peaks on its bearish trendline (green) for the past two months while testing the five-month support at the $23.11-mark. This movement depicted the gradually increasing selling pressure.
The recent down-channel (yellow) breakout rebounded from the 20 SMA (red) as it stood as a sturdy resistance in the past week. Now, the alt may retest the $23-mark and continue to find near-term resistance at the $24.3-level. The Squeeze Momentum indicator continued to hint at a low volatility phase.
Spaudos metu DOT kainavo 23.55 USD. The RSI looked south as it endeavored to retest the oversold region. It would only be rational to assume a near-term bearish move from here while the -DI (red) looked north.
„Terra“ (LUNA)
Šaltinis: TradingView, LUNA/USDT
LUNA saw an exceptional 99.96% up-channel rally (from 14 December low) until it touched its ATH on 27 December.
Over the past week, the alt saw an expected rising wedge (green) break down on its 4-hour chart. The alt marked a staggering 31.67% decline in a down-channel (white). But it found strong support at the 61.8% Fibonacci level.
Now, LUNA saw a bearish V-top on its 4-hour chart as it lost the 50% level. The 20-SMA (red) continued to act as strong resistance. Any further breakdowns would find testing support at the $66.9-level.
Spaudos metu LUNA prekiavo 34% žemiau savo ATH ir siekė 68.18 USD. The RSI saw a steep reversal from the midline and refrained from showing any near-term revival signs. Meanwhile, the Supertrend continued to flash sell signals.
Decentraland (MANA)
Šaltinis: TradingView, MANA/USDT
On its 4-hour chart, the alt saw a breakdown from the down-channel until the $2.7-mark two-month support (now resistance). But with Samsung žingsnis into the Decentraland metaverse, the token saw a 22% Jump on 6 January.
However, it succumbed to the broader sell-off by over-retracing the previous jump in a down-channel (white). It also dropped the month-long oscillating range between $3.92 and the $3.02-mark. Now the immediate support was at the lower trendline of the channel.
Spaudos metu MANA kainavo 2.7632 USD. The RSI fell below the midline and yet again found resistance at the 42-mark. Further, the TMS flashed a bearish preference. But the ADX displayed a slightly weak directional trend for the alt.
Source: https://ambcrypto.com/polkadot-terra-mana-price-analysis-10-january/