While the market entered into a short-term consolidation phase, VeChain, Tezos and Aave marked bearish patterns on their 4-hour charts. The buyers needed to step in and alter the broader sentiment to prevent a further breakdown from here.

As the low volatility phase ends, the market will start unveiling the true sentiments in the days to come.

Source: TradingView, VET/USDT

As the bearish vigor prevailed, the bulls even failed to defend the $0.05856-mark resistance (previous support). VET lost 41.1% of its value (from 20 January) and plunged toward its 11-month on 24 January. As a result, the price fell below all its 20-50-200 SMA.

Over the past few days, VET formed a bearish rising wedge on its 4-hour chart. Now, the bulls endeavored to cross the 20 SMA (red) after bouncing back from the lower trendline (white).

At press time, VET was trading at $0.05185. The bearish RSI still needed to find a close above the half-line to make way for a possible recovery. The CMF skewed in favor of the buyers after a sharp uptrend in the last three days. However, after analyzing the Volume Oscillator, it becomes vital to note that the recent red candlesticks saw more volumes than the green ones.

Source: TradingView, XTZ/USDT

Ever since breaking down from its up-channel (white), XTZ took on the driving seat. They breached the $3.8-mark five-month resistance (previous support). XTZ registered a 51.6% decline (from 5 January) and hit its six-month low on 24 January.

The alt formed a bearish pennant pattern over the past few days, as the bears kept exerting pressure. The testing point for the bulls stood at the upper trendline of the pennant.

At press time, XTZ traded at $2.89. After plunging to its record low on 22 January, the RSI saw a 33 point