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Polkadot, Solana, Terra Price Analysis: January 5th

Although market sentiment had not yet turned, DOT’s 20 SMA crossed its long-term SMAs, indicating heightened upward momentum.

In line with market developments, Solana saw a descending triangle and had to maintain critical support at $ 167 to prevent further collapse. Additionally, LUNA broke off the rising wedge and lost its 23.6% Fibonacci support.

Polkadot (DOT)

TradingView, DOT / USDT

DOT’s rising wedge (white) of nearly 40% (from December 20 low) stopped at the long-term bearish trendline (green). Then found the 19.95% retracement after the three-week high from December 27th at $ 26.12.

The bulls retested the 38.2% Fibonacci resistance four times in the past three days after jumping over the ten-week checkpoint (red). The $ 30 level was critical for the bulls as it coincided with the trend line (green) and the Fibonacci resistance.

Well than that 20 high school (red) crosses the 50-200 SMA, DOT showed increasing bullish influence. At press time, the Alt was trading at 29.8 after posting a 12.5% ​​ROI in just four days.

the RSI showed a bullish preference but appeared to be moving sideways. Also the + OF Line looked north and confirmed bullish strength. However, it is ADX showed a weak directional trend.

Solana (SOL)

TradingView, SOL / USD

For the past five days, SOL has seen heightened selling pressure resulting in a descending triangle (white) on the 4-hour chart. The alt fell below its 61.8% Fibonacci support and tested the $ 167 support several times over the past week.

The Alt was down nearly 17.68% after hitting its three-week high on December 27th. While the price action lurked beneath hers 20-50-200 SMA, this level was crucial for buyers to prevent further collapse.

At press time, the Alt was trading at $ 167.81. the RSI stood extremely weak after taking a downward motion. Also the DMI showed a decreasing preference, while the ADX showed a weak directional trend.

Earth moon)

TradingView, LUNA / USDT

LUNA saw a staggering rally on the upward channel of 99.96% (from December 14th low) until it hit its ATH on December 27th.

For the past two days, LUNA has seen an expected rise in the wedge (green) on the 4-hour chart. The alt retraced 9.38% during this period and lost 23.6% Fibonacci support. Any further failures would find test support at the $ 80 level.

At press time, LUNA was trading 17.4% below its ATH at $ 84.22. the RSI was heading south and showed no signs of resuscitation at the time of writing. Also the DMI distorted in favor of the bears, but the ADX showed a weak directional trend.

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