With the market-wide retracement in recent days, the Bitcoin Fear and Greed Index saw a slight pullback as it continued to float in the “fear” zone. Ethereum and Dogecoin witnessed an up-channel breakdown on their 4-hour charts. Uniswap fell by marking a reversal pattern. Any bullish comeback is likely to find a barrier near the $11.1 mark.
Since dropping below $4,000, ETH bears have initiated significant sell-offs. As a result, it hit its lowest point in six months on January 24.
It has since seen a 51.8% ROI as it broke through multiple supports (previous resistance) to poke its three-week high at the $3,200 level. However, ETH recorded a retracement of 11.3% in the past three days. So breaking off the upward channel (white). In addition, the 20 SMA (red) moved below the 50 SMA (grey), confirming a declining bullish edge. Now the immediate support was at the $2,800 level, while the resistance was at the $3,017 mark.
At the time of writing, ETH was trading at $2,919.5. the bearish RSI undertook a steep fall from its upstream channel (yellow). After testing the 47 mark twice, it fell toward oversold territory. Any close above the falling wedge (white) can trigger a test of its instantaneous resistance.
The altcoin fell 44.03% (as of January 14) and hit its nine-month low on January 22. Since then, DOGE has made up for its previous losses in the coming weeks.
The recovery phase marked a bullish channel (yellow, reversal pattern) on the 4-hour chart. While the $0.167 mark was solid, DOGE saw a 15.7% drop in five days. Now the immediate hurdle for the bears was near the $0.143 level. The bulls may face a barrier near the 20 EMA (cyan).
At the time of writing, DOGE was trading at $0.1466. After we entered the overbought region, RSI saw a pattern breakout and lost the 42 point level. This trajectory showed a strong bearish influence. Furthermore, the AO projected a bearish edge as they showed their waning strength over the past day.
Uni swap (UNI)
Since the drop from the $18.14 mark, UNI bulls have been unable to continue a sustainable close above the $12.5 zone. The alt was down 47.51% (as of January 17) and hit its one-year low on January 24.
Since then, UNI has been consolidating in a rectangle (yellow) until a breakout on February 7 after diverging bullishly with its RSI. Nevertheless, the bears maintained the $12.5 mark. For example, the altcoin saw a retracement of more than 18% in just the past five days, forming a falling wedge (white) on the 4-hour chart. Any close below $10 (immediate support) would encourage a retest of the wedge’s lower trendline.
At the time of writing, the alt was trading at $10.81. Since they encountered a hurdle near the 59 point, RSI even lost the 40 mark. Although it spoke in favor of sellers, it tried to test its resistance.
This post Ethereum, Dogecoin, Uniswap Price Analysis: February 13
was published first on https://ambcrypto.com/ethereum-dogecoin-uniswap-price-analysis-13-february/