Advertising revenue keep this site going. We do not actively endorse ads served to us.
DYOR. Please use your due diligence while on this site.
We also do not get information from our visitors.
cryptocurrency January 11, 2022

Keeping the squabbles about the broader sell-off aside, ETH managed to keep its long-term 61.8% Fibonacci support intact. However, it still needed a compelling close above the 20 SMA on increased volumes to make way for a possible recovery.

Advertisements

Filecoin, on the other hand, continued its bearish outlook while staying below the 20-50-200 SMA. ICP flashed slowing tendencies with a 20-EMA support on its 4-hour chart.

Ethereum (ETH)

TradingView, ETH/USD

The market-wide pullback on 05 January led ETH to drop the long term (Since July) 38.2%, 50% Fibonacci support.

Although bulls defended the 38.2% level with conviction, the sell-off instigated a 23.45% retracement (from 05 January) until the king alt poked its 15-week low on 10 January. This dip formed a down-channel (white) but rebounded from the 61.8% level. 

From here on, the next hurdle for ETH bulls stood at the upper channel that coincided with the 20-SMA (red). Any further dip would find testing support at the $3,000-level.

At press time, the alt traded 36.3% below its ATH at $3,110.3. The RSI was in an uptrend but failed to cross the 43-mark resistance. While MACD histogram displayed an increased buying power, its lines remained below the zero level. Recently, the selling volumes were much higher than incline volumes. Thus, indicating a powerful bear influence. 

Internet Protocol (ICP)

TradingView, ICP/USDT

The recent up-channel (yellow) found a convincing close above the 38.2% Fibonacci resistance. The alt saw a nearly 68.15% ROI in the past 21 days after a strong reversal from the $20.9-support. 

The EMA ribbons undertook a bullish flip while the 20 EMA stood as strong support over the past three days. Now, as the alt struggled to cross the $38-mark from near the 61.8% level, it saw a pullback. 

Also, the Squeeze Momentum Indicator flashed black dots, hinting at a low volatility phase. Any close below all the ribbons would indicate a potential breakdown. At press time, the ICP traded at $35.3 after noting a 1.41% 24-hour gain. The RSI preferred the bulls but pointed south toward the half-line.

Filecoin (FIL)

TradingView, FIL/USD

On its 4-hour chart, FIL saw a descending channel (yellow) over the past week. This pattern formed after a 31.97% retracement from the crucial $35-mark resistance (previous support).

The Supertrend visibly chose the long-term bearish tendencies and preferred the sellers. The immediate testing support now stood at the $25.4-level.

Advertisements

At press time, FIL traded below its 20-50-200 SMA at $28.2. The RSI could barely cross the 40-mark while retesting the oversold region thrice in four days. Moreover, the Squeeze Momentum Indicator indicated a high volatility phase by flashing grey dots. Nevertheless, the ADX showed a weak directional trend for FIL.

Source

English简体中文日本語한국어DeutschEspañolPortuguêsFrançaisРусскийไทยNederlands