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When Uniswap fell below its 200-SMA, bulls faced an uphill battle to push the market around in their favour. Chiliz held a critical support level at $0.520 after a breakdown. Finally, in order to avert a sharp turnaround, Decred needed to slash losses at $180.7.
Uniswap fell below its 200-SMA (green) on the 4-hour timeframe after a southbound shift below $30. According to the Awesome Oscillator, bearish sentiment was on the rise, and while one green candlestick did close in favour of the bulls, the market was in favour of the bears.
In the event of more declines, a high degree of funding can be seen at $26.2. Bulls will need to seek a spike above the upper limit of $31.4 and the 200-SMA to turn the market around. The RSI had yet to plateau in the oversold zone, and a return did not seem to be imminent.
The Chiliz market’s rebound towards mid-March levels was stalled by a larger crypto sell-off. This threw a wrench in the works as CHZ attempted to break through the $1 mark after a steady uptrend from $0.367 support. The bulls defended $0.520-support from a breakdown on the 4-hour map.
If the press-time support is sustained in the coming sessions, there is a possibility of a bullish reversal towards the $0.69 upper limit. After the first red bar dropped below the equilibrium mark, the Squeeze Momentum Indicator signalling a sale. The OBV fell as well, as selling demand outweighed buying pressure. Additional support is available at $0.45 and $0.36.
Decred rose from $143.8 to an all-time high of $251.8 during an amazing stretch, and although the stock fell with the economy, many support thresholds were found along the way. At the time of writing, the defensive line near $200 was holding high, preventing a prolonged sell-off.
If the on-chain indicators did flash red flags, the bulls will counter breakdowns before $180.7. DCR would enter bearish territory if it fell below this level, and the price could stay suppressed in the short term. The MACD signalling a bearish crossover, but the index was not in danger of falling below the half-way level. The Chaikin Money Flow had a positive reading because capital inflows were greater than capital outflows, but the gap was narrowing in recent sessions.