As extreme fear sentiment persists, Dogecoin lost about half of its latest surge, breaching bullish trend-line support in the short term. VeChain and Ethereum displayed low volatility amid sideways actions following patterned breakout. The alts’ short-term technical showed bears’ favoritism.
The bearish mode appeared to loosen after Ethereum rebounded from the long-term 61.8% FIB zone. The leading altcoin gained more than 10% last week. That was after poking a 15-week low on January 10.
The upward move saw the token breaching a downward channel, but ETH witnessed a retracement from its nearest supply zone. Moreover, the Volume Oscillator prints lower highs, suggesting weakness in the alt’s weekly gains.
Also, the alt started flashing bearish signals after the latest red candle submerged the previous green candle. For now, $3,239.8 remains vital for Ether buyers to join the bandwagon and avoid further losses. While writing this article, Ethereum trades around $3,254.
Meanwhile, the RSI could not maintain beyond the midline after a bullish divergence with the alt’s price. The indicators tested the 43 mark and displayed a selling preference. However, the ADA flashed a feeble directional bias for the coin.
The January 5 market crash had Dogecoin losing the support at $0.1675 after bears attacked the level several times. Such actions saw DOGE experiencing a 19.6% drop, poking a 5-week low on January 10. The meme coin has witnessed substantial recovery after a more than 55% ROI till January 14.
Nevertheless, DOGE bears kept the resistance at $0.1919 as the meme token lost more than 20% within the past 72 hours. For now, bulls have their closest testing point at $0.1739. While publishing this content, Dogecoin trades at $0.1704.
Meanwhile, the 33-point plummet within the past 72 hours had the token falling beneath the midline as it flashes bearish signals. Moreover, the Chaikin Money Flow remained under the zero-line, showing reduced money inflows. Nevertheless, the on-balance volume maintains its higher zones.
VeChain rose to reclaim its $0.076 support following a remarkable 19.5% surge from January 10 lows until the resistance at $0.08 resulted in reversals. Meanwhile, VET managed to close beyond the EMA Ribbons. However, bulls responded quickly, dragging VET back to the support at $0.0763. For now, OBV displays weak influence from bulls.
While publishing this content, VET traded around $0.07676. The RSI flashed bearishness as it swayed sideways beneath the midline. However, the Chaikin Money Flow highlighted improved inflows, crossing the zero-line following a short-term upswing.