Correlating with Bitcoin sentiment, XRP has leaned towards the sellers after marking oversold indicators on its RSI and losing 61.8% Fibonacci support. Furthermore, Stellar has dipped below its 20-50-200 SMA. However, these cryptocurrencies have seen increasing CMFs, keeping hopes of a bullish revival alive.
On the other hand, AAVE has seen a golden cross after the 20 SMA crossed the long term SMA.
XRP
Source: TradingView, XRP/USDT
After falling from the $1.01 resistance level, XRP has consistently marked lower highs over the past 25 days. Alt has lost more than 30% of its value (since December 27 high) and has tested the 5-month support at $0.7292 multiple times.
While the bulls secured the aforementioned support, XRP broke out of the falling channel (white) and regained the 61.8% Fibonacci support. However, recent losses have pushed the altcoin down to this level. Now, it has observed the $0.7292 level for testing support.
At press time, XRP is trading at $0.7404. After losing half-line support, RSI quickly fell to the oversold area. However, CMF is in an uptrend. Thus, it shows that the volume of coins has increased over the past four days. Besides, ADX showing a weak directional trend for XRP.
Stellar (XLM)
Source: TradingView, XLM/USD
The previous drop stopped at the $0.02464 support for 24 weeks. As a result, alt rose within a rising wedge (white) to test the $0.3022 resistance.
After that, the more widespread sell-off invalidated the potential bullish cup and handle pattern as XLM retreated within the descending channel (yellow). As a result, it hit a 5-week low on Jan. 10. Then the alt broke out of the pattern after an ROI above 21.6% over the next three days.
Now, the $0.2932 level is the point where sellers always step in. The bulls will have to defend the $0.2464 level to prevent a further break.
At press time, XLM is trading below 20-50-200 SMA at $0.2509. The RSI has gone south and shows no sign of resurgence. However, Like XRP, CMF favorable and favorable for the buyer.
AAVE
Source: TradingView, AAVE/USD
Alt reversed down from the key long-term support of $159 on Dec. 15. It had an amazing ROI of 84.8% (from Dec. 15 low) until hitting all-time highs. six weeks on December 28.
Over the past few days, AAVE has seen a falling wedge (green) breakout regaining the lost 61.8% Fibonacci support.
Now, the bulls seem to have found support at the lower trend line of the rising channel (white). While 20 SMA (red) pass 50-200 SMA, buying influence increased.
At the time of writing, AAVE is trading at $228.4597. The RSI oscillates almost halfway and flashes to neutral. The DMI describes a slightly increasing edge, but ADX (directional trend) is weak for AAVE.