The past few days have had multiple bullish attempts to launch a recovery on assets’ charts. With that, XRP witnessed a stead rally, hitting the value level of $1.01. EOS and Filecoin also wavered in the green region in the past 48 hours. Nevertheless, the fear & greed index flashes ‘fear,’ thus challenging bulls to initiate a trend-altering move.
Ripple (XRP)
Ripple sustained a 3-day upswing after creating two climbing triangles on the four-hour price chart within the past 20 days. The remittance crypto witnessed a 20.77% 2-day surge and broker past the $0.958 mark as XRP formed an ascending wedge.
As a bearish divergence emerged between price action and Relative Strength Index, the al had a pullout around the month-long resistance at $1.01. Moreover, the Volume Oscillator flashed new lows during the uptrend instead of rising, marking a weak motion by bulls.
While writing this blog, Ripple traded beyond the 20-, 50-, and 200-Simple Moving Averages at $0.9933. The RSI switched to the overbought level over the past day after picking a 10-week high on December 20. A retracement from this level will be neutral.
The Awesome Oscillator recorded higher highs and flashed surging bullish strength, but volumes affirmed the price trend’s weakness.
Filecoin (FIL)
Filecoin repeated a bearish formation this month as FIL broke down from a descending triangle on longer timeframes. Moreover, the alt endured an expected fall on December 20 before gaining 5.15% within the past 48hrs.
Nevertheless, the 50-Simple Moving Average prevented the upswing. Keep in mind that Filecoin has traded under this level for more than three months. Though high volumes accompany the latest push, the SuperTrend confirmed the long-term conditions, favoring sellers.
While publishing this blog, the altcoin traded at $35.849. The RSI still faces the closest resistance around the midline. Moreover, the ADX projected a weak directional bias for FIL.
EOS
EOS witnessed a symmetrical triangle break in the past two days. Bears retest $3.09 many times, but bulls remained committed and triggered a 9.18% 48-hour rally. The altcoin secured an oscillating range from $3.4 to $3.09 within the past two weeks.
With that, the Squeeze Momentum Indicator (SMI) affirmed consolidation trends, flashing black dots. However, the Volume Oscillator showed feeble bullish motion. At this publication, EOS traded at $3.365. The RSI stayed beyond the half-line, moving sideways.