Polkadot, Solana, Terra Price Analysis: 05 January

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Although the market sentiment had not yet flipped, DOT’s 20 SMA crossed its long-term SMA’s, hinting at an increased bullish vigor. 

Corresponding with the market trajectory, Solana saw a descending triangle and needed to maintain the crucial $167-support to prevent a further breakdown. Further, LUNA broke down from the rising wedge and lost its 23.6% Fibonacci support.

TradingView, DOT/USDT

DOT’s rising wedge (white) incline of nearly 40% (from 20 December low) halted at the long-term bearish trendline (green). Then, the 19.95% retracement after the three-week high on 27 December found testing grounds at the $26.12-level.

The bulls retested the 38.2% Fibonacci resistance four times in the past three days after jumping above the ten-week Point of Control (red). The $30-mark was crucial for the bulls to cross as it coincided with the trendline (green) and the Fibonacci resistance.

Now, as the 20 SMA (red) crossed the50-200 SMA, DOT depicted an increasing bullish influence. At press time, the alt traded at $29.8 after noting a 12.5% ROI in just four days.

The RSI exhibited a bullish preference but seemed to move sideways. Also, the +DI line looked north and reaffirmed the bullish strength. However, the ADX displayed a weak directional trend.

TradingView, SOL/USD

Over the past five days, SOL saw increased selling pressure leading to a descending triangle (white) on its 4-hour chart. The alt fell below its 61.8% Fibonacci support and tested the $167-support multiple times over the past week.

The alt retraced by nearly 17.68% after poking its three-week high on 27 December. While the price action lurked below its 20-50-200 SMA, this level was crucial for the buyers to step in to prevent a further breakdown. 

At press time, the alt