Polkadot, Cronos, FTX Token Price Analysis: 18 May

ambcrypto.com:

The overall market structure reshaped itself into a low volatile, compression phase in the last few days. As a result, Polkadot, Cronos, and FTX Token witnessed short-bodied candlesticks after approaching their high liquidity areas. Thus, hitting a near-term plateau on their charts.

The bulls still needed to inflict an uptick in the buying volumes to prevent the ongoing bearish tendencies in the market.

Source: TradingView, DOT/USDT

For over ten weeks, DOT sellers strained the $14.4-boundary by testing the bullish resistance. The recent liquidations opened up prospects for the sellers to pull the altcoin down to its multi-monthly lows.

Looking at the near-term movements, the bearish pull from the $14.4-level led the alt to lose more than 48% of its value. As a result, the altcoin slipped to its 16-month low on 12 May. In tune with the broader market trajectory, DOT picked itself up from its record lows while marking a bearish rising wedge. Post an expected breakdown, the price has been hovering near its Point of Control (red). A sustained close below the $10.4-level could pave a path for a short-term downswing.

At press time, DOT was trading at $10.4. After sailing near the mid-line and exhibiting a neutral view, the RSI dipped to test the 44-mark support. A robust close below this mark could be detrimental to the immediate recovery chances.

Source: TradingView, CRO/USD

After ensuring a range-bound oscillation for over three months between the $0.33 and $0.53 range, the sellers breached the long-term floor.

While doubling down on the southward journey, CRO shed over half of its value (since 1 May) and plunged to poke its seven-month low on 12 May. 

While the $0.17-level offered the bulls enough comfort to provoke a down-channel