Shiba Inu, EOS, and Chainlink saw 4hr RSI jumping beyond critical midline resistance. That comes as the broad market sentiment is seemingly enhanced. Nevertheless, SHIB continued to encounter resistance at $0.00002233 after printing a symmetrical triangle. On the other side, LINK bulls thrived for $17.7 as EOS hints at slightly reducing buying strength.
Shiba Inu (SHIB)
SHIB army could not counter the selling momentum since the alt broke down from the climbing wedge. The meme coin recorded persistent declines, losing half of its price since December 27, plummeting to 15-weekly lows on January 22.
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However, Shiba Inu witnessed a reversal rally following buyers’ attack at $0.00001864. Now, the 4hr chart shows SHIB on a symmetrical triangle. The closest resistance stays at the top trend-line that corresponds with $0.00002233.
While publishing this blog, SHIB traded at $0.00002212. The Relative Strength Index rebounded from the oversold territory after hitting a record low at 12.35. A more than 44-points recovery this week had the indicator crossing the midline. The RSI flashed bullishness while testing trend-line support. Moreover, the Squeeze Momentum indicator (SMI) showed low volatility territory for almost one week.
LINK saw a 48.56% crash after sellers joined at $25.75, poking 6-month lows on January 24. Buyers have kept $15.6, and the alt registered a 33% recovery until today. The latest gains saw the 4hr 20SM bullishly converging with 50SMA, depicting increasing buying activity.
Moreover, Chainlink experienced a climbing triangle breakout to test $17.7. Further breakouts would encounter a ceiling of $19.3. Meanwhile, downtrends will see LINK securing footing at the triangle’s upper trend-line.
While writing these lines, LINK traded at $17.61. The token’s RIS swayed in the overbought zone after overcoming the vital mark at 45. Nevertheless, the on-balance volume was yet to confirm bullish momentum.
The alt could not sustain the downward channel breakout because of the January 21 broad crash. With that, EOS saw a 30.41% drop to touch 22-month lows on January 24. The token printed a bearish flag on its 4hr price chart. Meanwhile, bulls tested the upward channel’s midline almost four times within the past 24 hours. That way, the level became buyers’ immediate resistance zone.
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For now, EOS traded at $2.341. The Relative Strength Index flashed improvement signals, sustaining beyond the half-line. Moreover, the Awesome Oscillator highlighted briefly increasing selling strength as it approached the midline.