XRP ceded the crucial $ 0.3 support level to the bears and was heading towards the $ 0.25 support level. Monero has been quite volatile as it saw a sharp rise followed by stronger selling pressure. He seemed likely to test the $ 150 support level at the time of writing. The period of consolidation of Dogecoin at $ 0.01 ended amid selling pressure. He’s heading further south.
$ 0.3 is a crucial level for XRP. Over the next few days at least. It can be expected that it will offer resistance to the price. The range between $ 0.17 and $ 0.3 has seen XRP move largely since July 2019.
The midpoint of this range at $ 0.23, with $ 0.25, corresponds to the immediate levels of XRP support.
The ascending triangle pattern did not see XRP move past $ 0.35. On the one hour chart, the MACD shows strong bearish momentum. The decline reverses to $ 0.25 when the buyers stepped in.
The reaction in the region of $ 0.295 to $ 0.3 will be significant. A rejection would mean another move to $ 0.25, while some consolidation there will likely be followed by a breakout to the upside.
Monero has been extremely volatile over the past two days. The breakout above $ 150 resulted in a move to $ 185. A rejection that retested the $ 150 level a move of 23.8% and 19.4% respectively.
The price was back in the $ 150 to $ 164 range. OBV, after the roller coaster ride of the past two weeks, was back where it was at the end of December.
A climb above the midpoint of the range to $ 158 would be bullish for XMR. A trading session closed below this point would see XMR retest the $ 150 support and possibly lose it to the bears.
DOGE has lost 15% in the last 24 hours. Ke price fell below the 20 SMA (white), after a few days of consolidation around $ 0.01.
An additional retracement may be in order for DOGE. The RSI slips below neutral 50 to indicate bearish momentum. A new test of the neutral 50 and another drop in the RSI would indicate a short-term downtrend.
Market wide selling pressure, if it ended, would see BTC and ETH stabilize and trade within a range, or resume their earlier uptrend. Over the next few days, this could also have a positive impact on DOGE prices.
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