Cardano saw a golden cross as its 4-hour 20 SMA moved above the 50-200 SMA while continuing the ascending channel oscillation. On the other hand, Elrond and Neo posted strong ascending channel gains over the past two weeks, but have now formed a bearish divergence with its RSI as they braced for a near-term setback.

Gimbal (ADA)

The alt fell 44.2% (compared to January 18) and hit a nine-month low on January 22. However, ADA recorded a 32.2% rally as it broke through the $1.12, $1.2 mark. Since then, the half ascending channel line (white, dotted) has taken strong support.

It is essential to note that the 20 ADM (red) jumped over the SMA 50/200 on February 9, affirming a bullish edge. Now, the immediate resistance was near $1.2, followed by the upper trendline of the uptrend channel (white).

At press time, ADA was trading at $1.176. Over the past two days, he has seen a substantial decrease in buying pressure as the IRS derivative from the overbought region towards the half line. But the bulls appeared to be holding the midline support. Any close below this level would propel a drop towards the $1.12 level.

Elrond (EGLD)

Source: TradingView, EGLD/USDT

Since hitting its ATH on November 23 near the $544 mark, EGLD has fallen sharply, as evidenced by the downtrend line (yellow) on its 4-hour chart.

After the recent sell-off, the bulls stepped in at the $118.2 mark and held the six-month support. As a result, the recovery phase saw an impressive 76.9% rally (from its five-month low on January 22) that broke above the $185 mark. During this phase, it also crossed its 11-week trendline (former resistance, yellow).

At press time, ELGD was trading at $183.9. the IRS correlated price action as it headed into the overbought zone on Feb. 7. Since then, it has formed a bearish divergence (yellow) with the price as it heads towards testing the 60 point support. Besides, the Compression momentum indicator now flashed black dots, hinting at a phase of low volatility.

NEO

Source: TradingView, NEO/USDT

After hitting its 3-month high on September 6, NEO saw multiple selloffs while losing crucial price levels. The most recent selloff noted a 37% retracement (from Jan. 19) as the alt hit a one-year low on Jan. 24.

While the bulls defended the $16.4 level, NEO has seen an almost 58% ROI since then, as it challenged the $24 resistance. Immediate support was held near the midline of the ascending channel.

At press time, NEO was trading 87.5% below its ATH at $24.78. the IRS was standing in the overbought territory while forming a bearish divergence with the price. A reversal from this level to test the 56 mark would be likely.