The broad sentiment dipped into ‘extreme fear’ at this publication. That comes despite Uniswap, AAVE, and Polkadot bouncing from multi-month lows on February 24. Uniswap displayed lucrative signals while hovering near the Bollinger Band’s upper border. Nevertheless, UNI highlighted weak directional trends like AAVE.
DOT bears seemed to prevent bullish actions since the alternative coin hit an all-time peak in 2021 November. The alternative currency lost more than 74% since November 4 as Polkadot approached 7-month lows on February 24.
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The latest bearish move led to a downward channel as the altcoin strived to cross the 20SMA. Meanwhile, the past few days saw DOT reclaiming the $16 level following a channel breakout. Bears ensuring a close under $17 will see the token retesting the support of $16.
DOT traded around $17.12 at this publication. The RSI plunged by almost 15 points within the previous day. The bulls should defend the 47-barrier to avoid possible fallout. Moreover, the Volume Oscillator display downtrends, suggesting that the latest breakout required more steam to maintain a close beyond the 20SMA.
Uniswap bulls failed to trigger trend-changing rallies since the alt lost the $15.3-level. The altcoin saw a 53.09% decline since January 21, touching a 1-year low on February 24. The altcoin saw a 35.6% recovery, poking the Bollinger band’s upper band. That way. The alt flipped the BB mean from resistance to closest support. Now, buying strength surged as bulls tested the top limit.
UNI traded near $9.77 at this publication. The RSI climbed past the midline after recovering from the $46-level, challenging the barrier around 60. Moreover, the DMI line confirmed a bullish narrative. However, ADA showed a feeble directional bias for Uniswap.
AAVE bulls lost steam following an upward channel breakdown, failing to conquer the resistance at $139. The altcoin dropped more than 40.57% since February 10, hitting 13-month lows on February 24. However, the token recovered from the range at $112 – $115, targeting resistance levels. However, the SuperTrend favored buyers as it entered green.
AAVE traded around $135.19 at this writing. The RSI failed to stabilize beyond the midline following a bearish divergence with alt’s price. The indicator flashed revival signals within the past few hours. Moreover, the on-balance volume reflected the latest increase while keeping its support. Meanwhile, AAVE showed a feeble ADX following a sharp drop within the past five days.
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