The broader crypto market signaled a recovery trend as it shifted into its inherent state of volatility. As a result, Ethereum and AAVE saw over 6% gains on their daily charts.
On the flip side, Shiba Inu defied market tilt by posting a 24-hour loss of 8.5%.
Ethereum (ETH)
Source: TradingView, ETH / USDT
After reaching their ATH, the bears triggered a decline of over 19% (as of Nov. 10) to hit the one-month low of the old on Nov. 26th. As a result, price retreated by marking a symmetrical triangle (yellow) after an upward channel breakdown.
However, bulls have provided support at $ 3,976 since last month. So the price went up all in one ascending widening wedge December hit two week high.
At press time, the Alt was trading at $ 4,730.49. the RSI was in the overbought area and showing signs of slowing down. A trend reversal could be imminent. Further, DMI visibly showed a bullish preference. Given the overbought RSI threat, the bulls will need to maintain momentum to break immediate resistance at $ 4,770.
Shiba Inu (SHIB)
Source: TradingView, SHIB / USD
The meme coin has lost almost half of its value since its ATH hit on October 28th. After a constant sell-off, the bulls couldn’t hold their own as the meme coin posted a monthly decline of 32.3%. As a result, SHIB hit its one-month low on November 26th.
Bulls were key support at the $ 0.0000035 level. As a result, they started an uptrend that resulted in a breakout of the downward channel.
However, SHIB posted a 24 hour loss of 8.5% and was trading at $ 0.0004521 at press time. This last day pullback formed a At the top (green) and may indicate a reversal.
On the last day, RSI slumped by 26 points from the overbought area. Further, TO and MACD reaffirm declining bullish strength. To prevent another trend reversal, the SHIB bulls must now secure support at $ 0.0000445.
AAVE
Source: TradingView, AAVE / USD
After rising in a rising wedge since September 22, AAVE hit its 23-week high at $ 458 on October 27.
After a rising wedge break on November 9th, the price pulled steadily down and oscillated in a downward channel (white). Since then, the bulls have been unable to resist selling pressure as AAVE lost over a third of its value to hit its four-month low on Nov. 28.
However, the Alt was up 7.17% 24 hours and was trading at $ 265.09 at press time. This boom resulted in a down-channel breakout. Hence, the near-term technicals showed a bullish preference.
the RSI stood at the 63 mark but showed signs of slowing down. Also the MACD preferred the bulls but indicated a slight loss of performance. Now the bears could hold out at the $ 272 mark for a while if the bulls fail to push the rally.
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