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Cardano saw a golden cross as its 4-hour 20 SMA moved above the 50-200 SMA while continuing the up-channel oscillation. On the other hand, Elrond and Neo saw solid ascending channel gains over the past two weeks but now formed a bearish divergence with its RSI as they braced for a near-term setback. The alt fell by 44.2% (from 18 January) and poked its nine-month low on 22 January. However, ADA saw a 32.2% recovery as it pierced through the $1.12, $1.2-mark. Since then, the half-line of the up-channel (white, dashed) has assumed strong support. It is vital to note that the 20 SMA (red) jumped above the 50/200 SMA on 9 February, affirming a bullish edge. Now, the immediate resistance stood near $1.2, followed by the upper trendline of the up-channel (white).

When bitcoin’s price fell by half between November and January, several leading market commentators warned that it could be the beginning of a so-called crypto winter. The latest bounce back means such fears are yet to be realised, with billionaire crypto entrepreneur Sam Bankman-Fried now suggesting it may be a “crypt autumn”. Speaking to Business Insider, the boss of the FTX exchange said there had definitely been a slowdown but there remained plenty of momentum and excitement in the space.

And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.

– BILLI REUSS

Various technical indicators are suggesting that bitcoin could be set for a big move, according to some crypto market analysts. Crypto investor and author Glen Goodman has spotted a head and shoulders pattern for both bitcoin and Ethereum (ETH), which could be followed by a big jump. He includes “the small matter of Ukraine” as a caveat, which could play havoc on traditional markets and subsequently crypto if war with Russia breaks out.

Comments

3

CRIK0VA

5:04 pm, January 11, 2024

Cardano saw a golden cross as its 4-hour 20 SMA moved above the 50-200 SMA while continuing the up-channel oscillation. On the other hand, Elrond and Neo saw solid ascending channel gains over the past two weeks but now formed a bearish divergence with its RSI as they braced

CRIK0VA

5:05 pm, January 11, 2024

Elrond and Neo saw solid ascending channel gains over the past two weeks but now formed a bearish divergence with its RSI as they braced

CRIK0VA

5:05 pm, January 11, 2024

Cardano saw a golden cross as its 4-hour 20 SMA moved above the 50-200 SMA while continuing the up-channel oscillation. On the other hand, Elrond and Neo saw solid ascending channel gains over the past two weeks but now formed a bearish divergence with its RSI

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