Polkadot, Fantom, SAND Price Analysis: 20 January

It may still be early to assert a solid trend reversal while the market grappled to cross the $2.15T-mark. Meanwhile, the near-term technicals of Polkadot, Fantom and SAND continued to flash a slight bearish edge while depicting their decreasing influence.

Polkadot (DOT)

Source: TradingView, DOT/USDT

Since the past seven weeks, the sellers have stepped in at the $29.9-mark and ensured a pullback. Moreover, the 5 January sell-off fueled its bearish tendencies as the alt saw an up-channel breakdown. 

DOT saw a likely upturn after the price tested the $23.11-mark five-month support again on 11 January. As a result, the alt saw a 27.06% ROI (from 10 January low) before reversing from the immediate supply zone. Now, the 

At press time, DOT traded at $24.72. The RSI stood at the 43-mark. After testing the oversold region twice in the last two days, it revived but still needed to sustain above the 41-mark. Further, the OBV was on a persistent decline and confirmed the bearish vigor. Also, the 

Fantom (FTM)

Source: TradingView, FTM/USDT

After breaking out of its ascending broadening wedge, FTM lost over a third of its value and tested the $2.22-mark.

From here on, it saw an exceptional rally after forming a double-bottom on its 4-hour chart. FTM gained a staggering 59.7% ROI from the 10 January low until it poked its 11-week high on 17 January. The 20-SMA (red) stood as strong support during the ascent. Now, it stood as an immediate resistance to topple.

At press time, FTM traded at $2.9248. The RSI tested the overbought region twice before a fall toward the 37-level. It flashed a decent recovery but still needed a sustained close above the half-line. The DMI skewed in favor of sellers. But the ADX (directional trend) still remained weak.

The Sandbox (SAND)

Source: TradingView, SAND/USDT

SAND bulls could not defend the $4.44-mark as support after the alt saw an expected rising wedge (green) breakout on its 4-hour chart. It saw a 40.73% retracement (from 26 December high) until it poked its two-month low on 19 January.

Now, as the alt endeavored to recover, the 20-SMA (red) stood as a strong resistance.

At press time, the alt traded at $4.3231. The RSI was at the 39-mark and eyed to test the equilibrium. It displayed a bearish bias at the time of writing. Also, the recent candlesticks marked lower peaks on the Volume Osicalltor, indicating a weak bull move.