The overall market structure has transformed itself into a low volatile compression phase in recent days. As a result, Polkadot, Cronos and FTX Token witnessed short candlesticks after approaching their high liquidity areas. Thus, they reach a near-term plateau on their charts.

The bulls still needed to trigger a rebound in buying volumes to avoid the ongoing bearish tendencies in the market.

Polka Dot (DOT)

Source: TradingView, DOT/USDT

For more than a decade, DOT sellers tightened the $14.4 barrier by testing the bullish resistance. The recent liquidations opened up the prospects for sellers to pull the altcoin to its multi-month lows.

Looking at the short term moves, the bearish pull from the $14.4 level caused the alt to lose more than 48% of its value. As a result, the altcoin plunged to its 16-month low on May 12. In keeping with the broader market trajectory, DOT recovered from its record lows as it marked a bearish bullish wedge. Post an expected breakdown, price hovers near its Checkpoint (red). A sustained close below the $10.4 level could pave the way for a short-term downturn.

At the time of writing, DOT was trading at $10.4. After sailing close to the centerline and showing neutral sight, RSI submerged to test the support of 44 points. A robust close below this line could be detrimental to immediate recovery opportunities.

Cronos (CRO)

Source: TradingView, CRO/USD

After guaranteeing a range-bound oscillation between the $0.33 and $0.53 range for more than three months, the sellers broke the long-term floor.

While doubling on the south journey, CRO lost more than half of its value (since May 1) and plunged on May 12 to reach its lowest point in seven months.

While the $0.17 level offered the bulls enough comfort to trigger a breakout in the down channel, the price struggled to break the chains of its 50 EMA (cyan).

At the time of writing, CRO was trading at $0.1958. The sellers were looking for a sustainable breakout of the midline of the RSI† Any close below this line would slow the recovery on the charts by revealing a bearish edge. Despite a slight bullish edge on the DMI readings, the ADX showed a significantly weak directional trend for the alt.

FTX Token (FTT)

Source: TradingView, FTT/USD

After a rampant 37-day sell-off after the up-channel (yellow) disruption, FTT rested at its nine-month baseline at the $28 level. This level triggered a reversal that stopped at the two-month trendline resistance (white, dashed ).

The recent upswing has finally delivered some decent gains. But the super trend remained in the red zone while favoring sellers, especially after breaking its bearish pennant pattern. At the time of writing, FTT was trading at $31,243, down 3.29% in the past 24 hours.



This post Polkadot, Cronos, FTX Token Price Analysis: May 18

was published first on https://ambcrypto.com/polkadot-cronos-ftx-token-price-analysis-18-may/

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