Ethereum, SAND, Chainlink Price Analysis: 26 December

Ethereum, SAND, Chainlink Price Analysis: 26 December


The recently marked a sensible healing while Ethereum and Chainlink poked their two-week highs on 24December Ethereum appeared to hold the $4,000 mark and now make every effort to check its instant resistance.

SAND touched its three-week high up on 26 December after forming an increasing wedge (turnaround) pattern.

Ethereum (ETH)

TradingView, ETH/USD

Over the previous 9 days, ETH oscillated in an up-channel (white) and recovered the essential $4000-mark assistance.

ETH grew by almost 11.9% (from 17 December low) and poked its two-week high up on 25December The bulls handled to sustain the cost above the $4000-level while the bears checked it two times in the last 2 days.

The rally continued to discover resistance at the $4,156-mark that accompanied the upper channel (white) and 200-SMA (green). Now, the instant screening assistance stood at the $4,000-level.

At press time, ETH traded at $4,038. The RSI saw a pullout after poking the 66-point and now swayed near the 48-mark. However, The OBV did not refer the uptrend. Also, the more comprehensive directional strength for ETH stayed considerably weak based on the ADX

The Sandbox (SAND)

Sandusdt 2021 12 26 17 59 57

TradingView, SAND/USDT

Since 5 December, SAND fell in a down-channel (yellow) on its 4-hour chart. AS the bulls checked the upper channel several times, it lastly saw a down-channel breakout.

SAND bulls crossed the 38.2% Fibonacci resistance as it recovered the essential $6.03 assistance after forming an increasing wedge (green, reversal pattern). As an outcome, it poked its three-week high up on 26December

Now, the 61.8% Fibonacci stood as a strong resistance. Any breakdown from here would see screening assistance near the $6.03-level.

At press time, the alt traded at $6.7141 after keeping in mind a 7.35% 24-hour gain. The RSI was at the 71-mark and showed a sweeping bullish predisposition. Considering the overbought RSI risk and the turnaround pattern, it would just be natural to witness a near-term obstacle.

Chainlink (LINK)

Linkusdt 2021 12 26 18 17 08

TradingView, LINK/USDT

After seeing a bearish increasing wedge breakdown on 9 December, the cost action shifted in a down-channel and checked the instant assistance at $17.7 almost 7 times in the last 13 days. However, the altcoin marked a 29.68% slope from the 15 December low over the previous 11 days.

During this stage, LINK formed a double bottom on its 4-hour chart and saw an anticipated breakout. Accordingly, the Supertrend continued to flash buy signals.

Now, the $22.2-level resistance stood as a screening point prior to any additional upturn. At press time, LINK traded at $0.0. The RSI swayed near the 63-mark, meaning a bullish choice. Also, the DMI chose the bulls and resonated with the bullish momentum.



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