Connect with us

Market

XRP Price Shows Increased Strength: Can It Sustain The Recovery?

Published

on


XRP price extended its increase above the $0.440 resistance zone. The price is showing positive signs and might rise further above the $0.4550 resistance level.

  • XRP price is attempting a recovery wave above the $0.4400 zone.
  • The price is now trading above $0.440 and the 100-hourly Simple Moving Average.
  • There is a key bullish trend line forming with support at $0.4390 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could extend gains if there is a close above the $0.450 resistance level.

XRP Price Aims Higher

XRP price remained in a positive zone above the $0.4250 level and extended its recovery wave, like Ethereum and outperformed Bitcoin. The price was able to climb above the $0.4320 and $0.4400 resistance levels.

The price even cleared the $0.4450 level and spiked above $0.450. A high was formed at $0.4547 and the price is now consolidating gains. There was a minor decline below the $0.4450 level. The price tested the 50% Fib retracement level of the upward move from the $0.4307 swing low to the $0.4547 high.

The price is now trading above $0.440 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $0.4390 on the hourly chart of the XRP/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.4307 swing low to the $0.4547 high.

XRP Price

On the upside, the price is facing resistance near the $0.4550 level. The first major resistance is near the $0.4620 level. The next key resistance could be $0.4650. A clear move above the $0.4650 resistance might send the price toward the $0.480 resistance. The next major resistance is near the $0.4880 level. Any more gains might send the price toward the $0.500 resistance.

Are Dips Supported?

If XRP fails to clear the $0.4550 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.4450 level.

The next major support is at $0.4390 and the trend line. If there is a downside break and a close below the $0.4390 level, the price might continue to decline toward the $0.4220 support in the near term.

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 – $0.4450 and $0.4390.

Major Resistance Levels – $0.4550 and $0.4800.



Source link

Market

Rallies 10% and Targets More Upside

Published

on



Este artículo también está disponible en español.

Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.

  • Ethereum started a fresh increase above the $3,220 and $3,300 levels.
  • The price is trading above $3,250 and the 100-hourly Simple Moving Average.
  • There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if it clears the $3,385 resistance zone.

Ethereum Price Regains Traction

Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.

The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.

Ethereum Price
Source: ETHUSD on TradingView.com

The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,385



Source link

Continue Reading

Market

Rallies 10% and Targets More Upside

Published

on



Este artículo también está disponible en español.

Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.

  • Ethereum started a fresh increase above the $3,220 and $3,300 levels.
  • The price is trading above $3,250 and the 100-hourly Simple Moving Average.
  • There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if it clears the $3,385 resistance zone.

Ethereum Price Regains Traction

Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.

The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.

Ethereum Price
Source: ETHUSD on TradingView.com

The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,385



Source link

Continue Reading

Market

GOAT Price Sees Slower Growth After Reaching $1B Market Cap

Published

on


GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.

However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.

GOAT BBTrend Is Negative For The First Time In 4 Days

GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.

BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.

GOAT BBTrend.
GOAT BBTrend. Source: TradingView

GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.

However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.

GOAT Is In A Neutral Zone

GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.

The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.

GOAT RSI.
GOAT RSI. Source: TradingView

RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.

This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.

GOAT Price Prediction: A New Surge Until $1.50?

If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.

Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.

GOAT Price Analysis.
GOAT Price Analysis. Source: TradingView

However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.

Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io