Though bears ceased offering bulls a hassle-free environment, Bitcoin Cash (BCH) conquered its closest obstacle and secured support at 23.6% FIB level. Meanwhile, Solana and Dogecoin met bearish divergence with Volume Oscillator, although their technicals showed brief bullishness.
Dogecoin (DOGE)
The original dog coin discovered an oscillating range from $0.162 to $0.182 after correcting about 48.96% within the last 55 days. Bears retested $0.162 six times within the past 20 days, but bulls held ground.
Nevertheless, the Volume Oscillator formed lower lows as the price function noted an upswing towards the 23.6% FIB level. However, the SuperTrend appeared hopeful for bulls while depicting buy signals as the meme coin crossed the $0.175 level.
While writing this blog, Dogecoin traded around $0.1765. The RSI witnessed a stable recovery within the past 72 hours and indicated buying momentum. Moreover, the DMI shows a bullish bias while ADX remains considerably weak.
Solana (SOL)
The $181 mark has been vital for Solana since breaking out of the sinking wedge on December 15. Bears safeguarded this mark but could not stop bulls from printing higher lows within the last ten days. Beware the lower lows on the Volume Oscillator as they indicate weak bullish movements.
SOL created an ascending triangle on the four-chart following a V-shaped recovery within the last three days. The closest testing support stayed around the lower trend-line that matched the 20-50 Simple Moving Average near $178.5.
While publishing this article, Solana exchanged hands around the $178.5677 level. The Relative Strength Index confirmed neutrality, staying slightly under the midline. Moreover, the DMI flashed brief bearish favoritism. However, the ADX suggested weak directional trends for Solana.
Bitcoin Cash
BCH witnessed a likely breakout past 23.6% FIB level after creating a descending widening wedge formation on the four-hour chart. Bears retested $419 almost six times as bulls safeguarded the testing point.
Bitcoin Cash had a 6.58% 48hr climb since December 20 but met correcting from its short-term resistance at $446. Since then, BCH lost around 2.58% and secured footing around 23.6% FIB level that coincided with 20 and 50 SMAs.
While writing this analysis, Bitcoin Cash traded near $438.4. The RSI stayed at the middle line after suggesting an uptrend. Moreover, the OBV witnessed a stable climb. Nevertheless, ADX indicated feeble directional trends.
