Home
News
- Dot price jumps 22% after suffering a 40% fall due to a double top pattern. The 0.5 Fibonacci level near $26.8 has provided support for this boost in price.
- Currently, the coin is trading just below the 50 EMA in the daily timeframe above the 200 EMA, implying the uptrend is intact.
- The DOT/BTC pair is trading at 0.0006228 with an intraday growth of 2%
Source- tradingview
XRP coin price created a new 52-week high of $1.96 before starting a downtrend to fall more than 50% in value; currently, it is holding above 50 and 200 EMA in the daily timeframe.
The volume over the daily chart is declining. After the downtrend, a new support level was observed at $0.95, and the price consolidated a little before taking support from 50 EMA and boosting up 20%.
The live XRP price today is $1.41, with a 24-hour trading volume of $16,840,427,633.
XRP is up 20.02% in the last 24 hours. The live market capitalization of the coin is $63,806,690,423.
Breakout threatened with Bearish Crossover
Source – tradingview
DOT has been consolidating inside a range between $29.8 and $46 in the 4-hour timeframe before the reversal from a 52-week high level. The DOT coin price had a fallout of this consolidation recently.
The coin price has been moving in a short-term downtrend. However, the recent boost in demand has resulted in the breakout of this resistance trendline.
A short retest is expected of this breakout. The coin price has increased 5.27% in the last 24 hours. The level of $19.5 is the immediate support, whereas the immediate resistance levels are $29.8 and $46.
The coin price is trading below the 200 EMA (white) and just above the 50 EMA (yellow). The 50 EMA is below the 200 EMA in the 4-hour timeframe due to the recent bearish crossover, implying a downtrend. However, the recent price boost has resulted in price crossing over 50 EMA.
The RSI (bearish) indicates bearish momentum while trading at 59.7. After an increasing slope, a short dip has resulted in the RSI heading towards the overbought zone.
The ADX indicates a loss in momentum as it is trading at 21.6 while the spike in ADX is decreasing, implying a loss of growth in momentum.
Conclusion – DOT coin price has recently exhibited a breakout of the resistance trendline suggesting the start of an uptrend. A short-term pullback is anticipated to give a retest. However, a failure in retest might drive down the price back to the immediate support level.
Support- $19.5
Resistance- $29.8 & $46
Author-Vishal
