The fear sentiment in the crypto space heightened as Bitcoin struggled around the $47,000 level. Despite that, SAND and MATIC secured daily gains on price charts amid increased short-term buying pressure. However, Polkadot bulls failed to flip the broad trend as DOT flashed weak short-term technical indications.
Polkadot maintained a downward revolution after the awaited bear flag breakdown. The fall happened after bulls retested $29.9 three times since the first week of the month. Meanwhile, the drop halted the 17-week long critical foothold at $24.3. With that, Polkadot secured an oscillating range in the levels highlighted above.
Polkadot extended its bearish streak as it poked a 14-week low during December 17 sessions. For now, buyers’ testing point stands around the 20 Simple Moving Average around the $26 level.
While writing this content, DOT hovered 54% beneath its all-time peak of $25.01. The Relative Strength Index moved sideways around the 40 mark, indicating a massive bearish effect. Moreover, the DMI confirmed the bearish momentum. Nevertheless, the ADA showed weak directional trends for Polkadot.
MATIC witnessed a dynamic trajectory last month as it failed to commit to a short-term trend. Polygon’s price actions printed higher lows while seeing a flatter top trend-line near $2.195, creating an ascending triangle on the 4hr chart.
The latest downward-channel breakout triggered the short-term bullishness as the Supertrend displayed buy signals. Meanwhile, the closest support stands around the 20 Simple Moving Average, around $2.065. Furthermore, the climbing lower trend-line coincides with this mark.
While publishing this blog, MATIC exchanged hands around $2.169 following a more than 6% 24hr gain. The RSI showed bulls favoritism after a ten-point increase within the past day. Moreover, the OBV flashed increased short-term buying pressure. Also, the DMI confirmed surged bullish strength as ADA showed MATIC’s weak directional trend.
Sandbox (SAND) formed higher lows as it saw a flatter top trend-line around 45.2, creating an ascending triangle on the 4hr chart. The last few days had the metaverse coin moving in a downward channel and appeared to secure support near the golden 61.8% FIB level. At this publication, the crypto trades at $5.2208 following a 6% gain in 24 hours.
The RSI remained northbound after a sharp climb. Moreover, the DMI showed a bullish outlook. However, the ADX showed a feeble directional trend. The OBV did not indicate buying momentum surge despite the bullish inclinations.