The significant weekly rise on the BTC Fear & Greed Index saw Tron crossing beyond the 38.2% FIB zone while the technicals highlighted overbought positions. Moreover, Axie Infinity and Decentraland witness a break past month-long trend-line resistance, revealing overbought conditions on their short-term technicals.
Tron (TRX)
Tron lost more than 60% of its price since nearing the long-term resistance area at $0.129. The loss had it plunging towards 6-month lows on January 24. Bulls have triggered gradual recoveries since then. The 61.8% FIB resistance rejected all significant recovery trials from the barrier at $0.05. Nevertheless, the trend-line support remained stable.
The previous two days had bulls closing beyond the crucial resistance of $38.2%. Also, the 20 exponential moving average and 50EMA crossed the 200-Exponential Moving Average, displaying a golden cross on the 4hr chart.
TRX traded near $0.064 at this publication. The Relative Strength Index neared an overbought territory around 70-level. A potential reversal would authorize a bearish divergence, translating to a near-term pullback.
Decentraland (MANA)
Decentraland lost more than 70% in its downward journey from the ATH, hitting 11-week lows on January 22. The Metaverse token recorded a massive recovery that encountered resistance near the month-long trend-line resistance until March 23.
The latest climbing wedge breakdown witnessed a steady revival from $2.3. That way, MANA gained approximately 11% over the past 72 hours. That rally had bulls flipping the long-term resistance trend-line to support. As a result, MANA’s price remained beyond the Bollinger Bands’ upper boundary.
MANA traded around $2.618 at this writing. The Relative Strength Index moved towards the 70-mark while confirming overbought cases for the alternative coin. Moreover, the Chaikin Money Flow certified the zero line as nearest support and displayed a bulls’ edge.
Axie Infinity (AXS)
The retracement period witnessed many downward channels on the 4hr chart as AXS lost almost 74.4% since its all-time high. That way, Axie Infinity hit 6-month l9ows on February 24. The downward move saw the crypto losing the crucial $80 zone as bulls kept the base at $42 intact.
That resulted in gradual recoveries for the token. The recent rally formed an upward channel that encountered a barrier near the 2-month-long trend-line resistance before bulls overcame it within the past 24hrs.
AXS traded around $59.611 at this writing. The Relative Strength Index stayed inside the overbought region while positioning itself for a short-term drop. Any reversal might see the indicators securing testing zones around 61-level. Remember, the RSI touched a 6-week peak.
