While the broader market has refrained from high volatility over the past 24 hours, Cosmos and Fantom remain interested in retesting their ATH levels. Their short-term technical indicators have picked buyers. But both of their CMFs are barely able to cross the equilibrium.
Similarly, Tron has seen overbought indicators on the Bolinger bands and witnessed a near-term retracement.
Tron (TRX)
Source: TradingView, TRX/USDTB
Buyers eventually joined in and initiated a patterned breakout after TRX hit a 5-month low on Jan. 10. Since then, the alt has rallied nearly 13.9% and found the level Short-term resistance is at the 38.2%, 50% Fibonacci levels.
Now, immediate resistance stands near the upper band of Bollinger Bands. Though the bulls reclaim the critical support at $0.0669, CMF does not mark higher highs and fluctuates near the zero line. This reading means that buying pressure cannot correspond to the price increase.
At press time, TRX trades at $0.06938. After breaking out from mid lane, RSI has finally passed the 59 mark. But at the time of writing, it seems to have lost its vitality.
Cosmos (ATOM)
Source: TradingView, ATOM/USDT
After retesting the $32.5 support for over seven weeks, the bulls finally initiated a sustained inverse head and shoulders breakout on January 1.
Alt has rallied more than 35% (since Jan. 1) and hit a 15-week high on Jan. 7. This tilt has helped ATOM regain the long-term 23.6% Fibonacci support at $36. .
Alt has formed an ascending expanding wedge (reversion pattern, white) on the 4-hour chart over the past month. Now, when the 20 SMA (red) crosses its 50-200 SMA, the ATOM shows increasing buying influence.
At press time, ATOM is trading just 2.6% lower than ATH at $43.48. The RSI flashed an uptrend by continuously marks higher peaks. Now it aims to retest the overbought zone. Interesting, CMF barely crosses the zero line, indicating insufficient cash flow. To top up, ADX show a weak directional trend.
Fantom (FTM)
Source: TradingView, FTM/USDT
The ascending expansion wedge (white) was broken after FTM hit a two-month high on Jan. 5. Since then, the altcoin has lost nearly 34.1% of its value to find a test base in $2.22 level.
From here, it recovered more than it lost after forming a classic double bottom on its 4-hour chart. FTM has posted an amazing 57.12% ROI from the Jan. 10 lows through press time.
At press time, FTM trades at $3.2856. The RSI increased more than 18 points in the past day, moving near the overbought area. It represents a sideways trend before a reversal is possible. Similar to ATOM, CMF barely cross the zero line.