Tezos (XTZ) witnessed whopping gains amid overbought RSI as BTC Fear & Greed Index noted a 26-point jump since last week. Moreover, EOS annulled its bearish trends after a close beyond the upward channel, eyeing a retest of $2.6. Meanwhile, Dogecoin witnessed an about 5% drop within the past day, falling towards the upward channel’s half-line.
Dogecoin (DOGE)
The meme crypto witnessed a 44.03% decline since January 14, hitting 9-month lows during January 22 sessions. Since then, Dogecoin recorded a more than 40% upsurge within the past 16 days.
This recovery phase printed an ascending channel on the 4hr chart. As the $0.167 level remained sturdy, Dogecoin witnessed a 5.09 % fall within the previous 24hrs. For now, bears’ closest obstacle stands around the channel’s half-line.
While publishing this post, Dogecoin traded at $0.1563. The RSI witnessed patterned breakout, losing the 54-level towards the overbought area. Bulls should protect the half-line to prevent further decline to the 42-level. Moreover, the Awesome Oscillator flashed bullish favoritism.
Tezos (XTZ)
Tezos recorded a 51.6% fall since January 5, hitting 6-month lows during January 24 trading sessions. However, the alt saw a bounce back from $2.8, recovering previous losses before XTZ reclaimed the critical support near $3.8.
The altcoin saw a 75.2% ROI within the past 16 days, rising from the 6-month low. It also printed an ascending channel at this period. As sellers somewhat lost $4.4, the coin’s nearest resistance sits at the channel’s upper trend-line.
While writing this blog post, XTZ changed hands at $4.5. The RSI hit the overbought territory many times since losing the upward channel. But the indicator ensured support at the half-line.
For now, it hovers near its 2-month peak, suggesting overbought conditions. Furthermore, the DMI confirmed bullish strength as +DI remained northbound.
EOS
The January 21 crash had EOS on significant losses at it breached critical support zones. With that, the token recorded a 30.41% drop to touch 22-month lows on January 24. Meanwhile, EOS saw a 39.2% increase within the previous 16 days.
EOS saw more than 11% urges within 48 hours before retreating from the resistance at $2.6. The closest resistance remained at this zone. Any correction would discover support around the 20 Simple Moving Average.
While publishing this blog, EOS traded beyond 20-50 Simple Moving Average around $2.657. The bullish Relative Strength Index noted a remarkable uptick, poking the 80-level on February 8. It discovered strong support at the trend-line since then.
