XRP price extended losses and tested the $0.5120 zone. The price is now rising and might attempt to clear the $0.5320 resistance zone.

• XRP price is correcting losses from the $0.5120 zone.
• The price is now trading below $0.5400 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could gain bullish momentum if it clears the $0.5350 resistance zone.

XRP Price Starts Fresh Increase

XRP price failed to start a fresh increase and extended losses below $0.5320, like Bitcoin and Ethereum. There was a move below the $0.530 and $0.5250 levels.

The price even dipped below $0.5200 and tested $0.5120. A low was at $0.5117 and the price is now correcting losses. There was a move above the 23.6% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5117 low.

There was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP/USD pair. The price is now trading below $0.5400 and the 100-hourly Simple Moving Average.

On the upside, the price might face resistance near the $0.5350 level or the 50% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5117 low. The first major resistance is near the $0.5400 level.

The next key resistance could be $0.5420. A clear move above the $0.5420 resistance might send the price toward the $0.5485 resistance. Any more gains might send the price toward the $0.5550 resistance or even $0.5650 in the near term. The next major hurdle might be $0.5800.

Another Decline?

If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5230 level. The next major support is near the $0.5200 level.

If there is a downside break and a close below the $0.5200 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5050 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5230 and $0.5200.

Major Resistance Levels – $0.5350 and $0.5420.

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ApeCoin (APE) price is down roughly 15% in the last 24 hours after rising more than 100% between October 19 and October 21. The MVRV suggests that many holders are still in a position of unrealized losses, indicating weak market sentiment.

The RSI also shows a shift from overbought conditions, implying that bullish momentum may have diminished. Despite some signs of support, key levels and trend indicators suggest that the current correction might not be over yet.

APE MVRV Shows an Important Signal

The APE 7D MVRV is currently at -11.85 %, which indicates that, on average, holders of APE tokens have experienced unrealized losses of 11.85% over the past week. MVRV (Market Value to Realized Value) is a metric used to assess token holders’ average profit or loss.

The 7D MVRV specifically looks at the profit or loss of investors who acquired their tokens within the last seven days. Negative values, like -11.85%, suggest that the majority of recent buyers are underwater, meaning they bought APE at higher prices than it is currently trading at.

Read more: ApeCoin (APE) Price Prediction 2024/2025/2030

Despite the current negative 7D MVRV reading, historical data from the past six months suggests that APE tends to make strong rebounds whenever the MVRV reaches the -13% level. This implies that there is often significant buying interest around such deeply negative MVRV levels, leading to a price reversal.

However, since the current MVRV value has not yet reached that historical rebound threshold, the ongoing correction may not be over, and further downside movement is possible before any significant recovery.

ApeCoin RSI Is Now Neutral After a Huge Surge

The APE RSI is currently at 45.68, having dropped from over 90 just a few days ago following a rapid 100% price surge in just two days. That happened after the announcement of ApeChain, Yuga Labs own blockchain. The RSI (Relative Strength Index) is a momentum indicator used to gauge whether an asset is overbought or oversold.

RSI values range from 0 to 100, with levels above 70 typically indicating an overbought condition—suggesting the asset may be due for a correction. On the other hand, values below 30 indicate an oversold condition, implying potential buying opportunities.

With the current RSI level at 45.68, APE is neither overbought nor oversold, suggesting a neutral momentum after its recent pump. This level indicates that the token is still in a corrective phase, with the potential for more downside movement before reaching oversold territory.

Since it has not yet dropped below the 30 mark, which would signal oversold conditions, the ongoing correction could continue further before any significant reversal occurs.

APE Price Prediction: Will It Go Below $1?

The EMA lines on the APE chart suggest a rapid change in momentum following the recent price pump. The shorter-term EMAs have sharply risen above the longer-term EMAs, indicating that bullish momentum was strong during the rapid surge.

However, with prices now pulling back to around $1.20, the narrowing gap between these EMAs suggests that the bullish momentum might be fading. The proximity of the EMAs also points towards potential consolidation or a lack of clear direction moving forward.

Read more: ApeCoin (APE): Everything You Need To Know

Regarding support and resistance, APE has several key levels to watch. Resistance levels are at $1.34, $1.47, and $1.82, the biggest price for ApeCoin since April. On the downside, support is marked at $1.12, $0.94, and $0.78.

If APE fails to hold the $1.12 support, further downside correction toward $0.94 or even $0.78 is possible. Conversely, if the uptrend appears again, APE price could test the $1.34 resistance and even try $1.47 after that.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave.

• ADA price started a downward move below the $0.3500 support level.
• The price is trading below $0.3550 and the 100-hourly simple moving average.
• There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA/USD pair (data source from Kraken).
• The pair could attempt a recovery wave if it clears the $0.3585 resistance zone.

Cardano Price Consolidates Losses

After testing the $0.3685 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, like Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels.

There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA/USD pair. The price even declined below $0.3440 before the bulls appeared. A low was formed at $0.3420 and the price is now correcting losses. There was a minor move above the $0.3480 level.

The price cleared the 23.6% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. Cardano price is now trading below $0.3550 and the 100-hourly simple moving average.

On the upside, the price might face resistance near the $0.3550 zone or the 50% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. The first resistance is near $0.3585. The next key resistance might be $0.3685.

If there is a close above the $0.3685 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3780 region. Any more gains might call for a move toward $0.3950.

Another Decline in ADA?

If Cardano’s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3480 level.

The next major support is near the $0.3420 level. A downside break below the $0.3420 level could open the doors for a test of $0.3250. The next major support is near the $0.3120 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.3450 and $0.3420.

Major Resistance Levels – $0.3550 and $0.3685.

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