With the Bitcoin Fear and Greed Index flashing an “extreme fear” situation for the past week, the resulting impact on most cryptos can be seen. XRP flashed weak technicals, while Tron and BitTorrent lost their crucial price points that the bulls kept going for months.
As of December 7th, XRP has found an oscillating range between $ 0.88 and the $ 0.77 level. the Squeeze momentum indicator black dots flashed constantly and resounded with the consolidation tendencies.
After an ascending triangle breakout on December 8th, the bulls broke above $ 0.88 but quickly fell below the 20-50 mark Upper school Lines. In this case, a downward channel (yellow) has been recorded on the 4-hour chart.
Over the past week, the 50 SMA has been a good resistance as the price move practically fluctuated below it after testing it several times. Now, if price action breaks above levels, there could be a subtle resistance at $ 0.84 which served as an immediate test point for the bulls.
At the time of writing, XRP was trading at $ 0.8113 after seeing a 25.9% decline over 30 days. For the past nine days, the RSI struggled to break the 55 mark. Also the Volume oscillator marked lower highs, suggesting a weak move higher.
TRX attested a symmetrical triangle collapse over the last day while the anxiety was rising. This decline was in anticipation of an earlier decline in the double top on December 4th. In addition, the price action saw a long red candle on December 17th after it was revealed that Justin Sun had resigned from his position at the Tron Foundation.
The bears showed their strength as the TRX plunged over 9% in just two days. The altcoin lost the crucial $ 0.82 level that the bulls sustained for over four months. As a result, it fell toward $ 0.078 for the third time in 18 weeks. No surprise to see that Super trend in the red area and flashing sell signals.
At press time, TRX was trading at $ 0.0805. the RSI moved sideways after falling into oversold territory. the OBV fluctuated around its seven-week low and reiterated lower buying pressure.
Bit torrent (BTT)
BTT continued to decline after hitting $ 0.004198 on December 8th. The Alt has fluctuated on a downward channel (white) for the past few days, falling 36.6% during that time.
The altcoin lost the crucial $ 0.003088 (immediate resistance) that sustained the bulls for almost 19 weeks. That collapse ended at $ 0.002609 which was also the cutout for the previous double bottomed breakout. As a result, price action rebounded from these levels after the bears retested three times.
At the time of going to press, BTT was trading at $ 0.00266. the RSI chose the bears, marking lower highs since December 7th. Also the DMI and MACD Lines distorted in favor of the bears.
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