With Bitcoin diving below its 4-hour 20/50 EMA, the FTX token broke out of its up-channel. But the OBV measurements still kept optimistic hopes alive.
Also, MANA, SAND and Axie Infinity revealed a short-term sales advantage on their technical data. With their 4-hour RSIs hovering near the oversold mark, they positioned themselves for a possible rebound.
FTX Token (FTT)
After a rampant month-long rally in a bullish channel (yellow), FTT showed signs of slowing down near the $50 mark. The latest bull rally came after the alt hit its six-month low on Jan. 24.
While the $50 long-term resistance was solid, the 20 EMA (red) took a dive under the 50 EMA (cyan) as the trend shows a bearish tendency in the near term.
At the time of writing, FTT was trading at $47.77, down 5.24% in the past 24 hours. Despite the recent plunge, OBV marked higher dips in the past two days and diverged bullishly with the price. So the $47 support was a significant hurdle for the bears to overcome.
Decentralized Country (MANA)
Since hitting its 11-week low on January 22, the alt saw an astonishing ROI of 107.4% through February 9. It then fell to test its long-term trendline support (white, dashed).
In recent days, MANA grew to retest the $2.7 mark before falling to find some cushion for the trendline support. Furthermore, the super trend stayed in the red zone while favoring the sellers.
At time of going to press, MANA was trading at $2.5. The RSI continued its descent into the lower channel. An immediate recovery from here could find resistance at the 39 mark.
The sandbox (SAND)
The previous uptrend saw exceptional gains as the altcoin spiked the $3.6 resistance. As the bears gained momentum, they started a selloff leading to an expected collapse of the rising wedge (white).
At the time of writing, SAND was trading at $3.2. RSIThe recent setback caused it to lose midline support. But as it approached oversold territory, the bulls would now be eager to trigger a short-term retrieval.
Axie Infinity (AXS)
The previous retracement phase witnessed a loss of 74.4% (of its ATH). As a result, AXS hit its six-month low on February 24.
During this fallout, the altcoin lost the critical $80 while the bulls kept the $42 floor intact. As a result, AXS has been gradually recovering since then. The latest rally saw staggering gains until early this month. For the past few days, AXS has depreciated in a falling wedge.
At the time of writing, AXS was trading at $58,385. The RSI hit oversold territory and positioned itself for a near-term rebound. The MACD depicted a bearish edge as the histogram and lines dipped below the zero line.
This post FTX Token, MANA, SAND, Axie Infinity Price Analysis: April 06
was published first on https://ambcrypto.com/ftx-token-mana-sand-axie-infinity-price-analysis-06-april/