Terra clawed back to regain its 50% FIB support as Bitcoin crossed its 20-Simple Moving Average. Nevertheless, the altcoin’s OBV struggled to correspond with the latest spike.
Meanwhile, Tezos still displays weak short-term technical indicators after XTZ oscillated within a downward channel on the four-hour chart. The alt might retest the support at $3.8 before launching a potential recovery. On the other since, AAVE flashed a bullish setup while keeping a healthy buying strength.
LUNA witnesses an expected climbing wedge breakdown on the four-hour chart over the previous week. The crypto recorded a 31.66% drop inside a downward channel since then. That had it poking its 3-week low on January 8. Meanwhile, LUNA has seen a lucrative 16.7% upswing since then, following a rebound from the 61.8% mark.
That had LUNA regaining the support area of 50% retracements and crossing the 20-Simple Moving Average. Meanwhile, the Bulls have their nearest testing point at $74.9. Any breakdowns may secure testing support near the $69 mark.
While publishing this news, LUNA trades around $72.68. The RSI displayed an improvement signal as it thrived in securing a dependable close past the half-line. SuperTrend still shows sell signals. Moreover, the OBV could not record a corresponding increase with the latest surge, confirming feeble buying pressure.
Tezos price functions saw an impressive recovery as bulls kept the 4-month support at $3.8. Moreover, the crypto breached much resistance after forming an upward channel until poking a monthly peak on January 4.
Nevertheless, meeting the 61.8% FIB retracement led to a 29.4% retracement and a bounce back from $3.8. As Tezos dropped from the 20 Simple Moving Average, it approached an immediate footing at the mentioned level.
While publishing this article, XTZ wavered at $4.019. The RSI still sways under the half-line with bearish favoritism. The DMI lines widened gap confirm a similar case with a bearish bias.
AAVE reversed its fall from the crucial long-term support at $159 on December 15. The alt noted a whopping 84.8% ROI from the December 15 low until poking a 6-week peak on December 28 and met resistance at 61.8% FIB level. Now, bulls appear to discover support at $202, then 78.6% level.
A compelling close past 20SMA at $210 would authorize a massive possible breakout.
While writing these lines, AAVE exchanged hands at $203.57. The RSI hovered beneath the half-line and highlighted an upswing. Meanwhile, the OBV kept its short-term support despite the significant plunge, showing superior buying momentum.