Crypto Fear and Greed Index showed greedy market sentiment with a value of 73 even as many altcoins posted losses. Bitcoin surged to $13,700 at the time of writing. EOS broke strongly southward while Aave also faced strong rejection at a level of resistance. Both assets could be poised for further losses in the coming days. Synthetix broke downwards out of a bearish pattern and could see a brief relief rally before another move south.
Source: EOS/USDT on TradingView
EOS formed a broadening wedge and closed beneath the pattern. indicating a break to the downside.
Support at $2.59 was also lost, and the price even briefly dipped beneath $2.44 support before bulls were able to push the price to close above support.
The RSI showed that the asset was still in oversold territory and a brief recovery to the upside can be expected. $2.55 can be a target for a bounce. A test of $2.59 was also possible.
A recent report by Atlas VPN found that EOS Dapps were the most targeted by hackers, registering 117 hacks (almost 36% of all blockchain-related hacks) and an estimated loss of $28.28 million.
Source: AAVE/USDT on TradingView
The hourly chart painted a bearish picture for AAVE. It dropped as low as $28.15 and managed to bounce to $33, but was rejected strongly.
The trend over the past week has been bearish, with the recent move upward being a bounce in a downtrend. A close beneath 50-period moving average (yellow) could signal further bearish strength in the short-term.
The Aave Protocol officially handed over the admin keys to its decentralized governance community.
Synthetix Network [SNX]
Source: SNX/USDT on TradingView
SNX formed a descending triangle pattern, which generally sees the price break to the downside.
In this instance, whales went stop-loss hunting as the price faked a break to the downside, moved back up to nearly $3.7, and then broke downward.
SNX had a level of support at $3 and might experience a brief move upward to $3.2 before another plunge.
The OBV showed that selling volume has been persistent in the past couple of weeks and sellers could force the price lower in the coming days.
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