Ethereum, Filecoin, Terra Price Analysis – December 29

The fear sentiment increased as the cryptocurrency fear & green index witnessed a 14-point drop. The broad market sell-off has Filecoin and Ether plunging under their 20-, 50-, and 200-Simple Moving Averages. That had Ethereum losing the crucial $4,000 level as Terra surrendered the 23.6% FIB support.

Ethereum (ETH)

Ethereum gave up the $4,000 again as the global market sentiment weighed on Ether bulls. Ethereum had its price breaking out in a climbing channel, upholding the $3,766 11-week footing. Though the 9.56 recovery period, the alt encountered massive resistance at 200-Simple Moving Average around $4,150. However, the broad market crash formed an upward-channel breakdown, erasing most of the mentioned gains.

The drop pushed Ether beneath 20-, 50-, and 200-SMA, authorizing the ongoing downward trend. Furthermore, the OBV supported the fall, indicating reduced buying momentum. While publishing this post, Ethereum stood near 43,805.

The Relative Strength Index witnessed a 30-point drop within the last 48 hours as it wavered within the oversold area. Moreover, the DMI flashed sellers’ favoritism. However, the ADX showed a weak directional bias for the alt.

Terra (LUNA)

Terra’s LUNA witnessed a whopping 99.18% upward channel surge since December 14 low to hit its ATH. The coin poked a lifetime milestone following a four times retest o $100. Since then, LUNA has lost more than 16.9%, surrendering the 23.6% FIB support. Also, bears flipped the 20-Simple Moving Average footing into the closest resistance.

Terra bears tested the $84 mark twice within the past 24hrs. Further drawbacks will see the altcoin hitting the 38.2% FIB area as testing support. While writing this content, LUNA trade around $85.97. Meanwhile, the RSI displayed no revival signals as it wavered near the 35-level. Moreover, the OBV confirmed reduced buying power.

Filecoin (FIL)

According to the 4hr chart, FIL was on an ascending wedge within the last nine days. The pattern emerged when the descending triangle break secured support around the long time-frame bearish trend-line (cyan).

After poking a 2-week peak on December 27, FIL witnessed a 12.94% drop within the past 48hrs. With that, the SuperTrend reflected the long-term bears’ movements, preferring sellers. While writing this news, Filecoin traded under its 20-, 50-, and 200-SMA near $36.1084.

The RSI remained on a sharp fall with no revival signals. Moreover, the Squeeze Momentum Indicator flashed grey dots, indicating high volatility. However, ADX showed feeble directional bias.