With Bitcoin diving beneath its 4-hour 20/50 EMA, the FTX token broke down of its up-channel. However its OBV readings nonetheless saved the bullish hopes alive.
Additionally, MANA, SAND and Axie Infinity revealed a promoting edge on their near-term technicals. With their 4-hour RSIs hovering close to the oversold mark, they positioned themselves for a doable revival.
FTX Token (FTT)
Supply: TradingView, FTT/USD
After an unrestrained month-long rally in an ascending channel (yellow), FTT confirmed slowing indicators on the $50-mark. The most recent bull rally sprang after the alt matched its six-month lows on 24 January.
Whereas the $50-level long-term resistance stood sturdy, the 20 EMA (pink) took a dip beneath the 50 EMA (cyan) because the near-term pattern depicted a bearish inclination.
At press time, FTT traded at $47.77, down by 5.24% within the final 24 hours. Regardless of the current plunge, the OBV marked greater troughs previously two days and bullishly diverged with the value. Thus, the $47-mark assist stood as a considerable hurdle for the bears to beat.
Decentraland (MANA)
Supply: TradingView, MANA/USDT
Since touching its 11-week low on 22 January, the alt noticed a staggering 107.4% ROI till 9 February. Then, it dropped to check its long-term trendline assist (white, dashed).
Over the previous few days, MANA grew to retest the $2.7-mark earlier than falling to discover a cushion at its trendline assist. Moreover, the Supertrend continued to be within the pink zone whereas favoring the sellers.
At press time, MANA traded at $2.5. The RSI continued its descent within the down-channel. An instantaneous restoration from right here may discover resistance on the 39-mark.
The Sandbox (SAND)
Supply: TradingView, SAND/USDT
The earlier uptrend noticed distinctive features because the altcoin poked the $3.6-resistance. Because the bears gained a heightened momentum, they initiated a sell-off that led to an anticipated breakdown from its rising wedge (white).
At press time, SAND traded at $3.2. RSI‘s current setback brought about it to lose the midline assist. However because it approached the oversold territory, the bulls would now be eager on triggering a near-term retrieval.
Axie Infinity (AXS)
Supply: TradingView, AXS/USD
The earlier retracement part witnessed a 74.4% loss (from its ATH). Consequently, AXS touched its six-month low on 24 February.
Throughout this fallout, the altcoin misplaced the vital $80-mark whereas the bulls saved the $42-floor intact. Consequently, AXS has been on a gradual restoration ever since. The most recent rally noticed staggering features till the start of this month. Over the previous few days, AXS depreciated in a falling wedge.
At press time, AXS traded at $58.385. The RSI hit the oversold territory and positioned itself for a near-term revival. The MACD depicted a bearish edge while its histogram and contours plunged beneath the zero-line.
