CandleFocus

Dogecoin (DOGE) $1.2 Billion Explosion Fading, XRP 50% Price Spike Is New Massive Target, Solana (SOL) Technical Cross Is Coming

Author: Content Editor
The trading volume for Dogecoin (DOGE) recently reached an all-time high of $1.2 billion, causing a temporary increase in price. However, the volume has started to decline, suggesting a potential decline in price. Whales and speculative traders played a significant role in the surge but there doesn't seem to be persistent buying interest at these levels. If the volume returns to normal, DOGE may struggle to maintain its current price and could retreat further. The 50-day moving average at $0.117 and support levels at $0.1139 and $0.1104 are important levels to watch.

On the other hand, XRP has experienced a strong price increase, reaching above $0.63 and potentially aiming for a historical level of $0.94. The breakout from a symmetrical triangle pattern indicates further upside potential, but it will require persistent buying pressure to reach the target. Resistance levels at $0.70 and $0.80 need to be overcome, while support at $0.60 must hold for the rally to continue.

Solana (SOL) is preparing for a bullish trend as the 26-day EMA is about to cross the 100-day EMA, which is known as a golden cross pattern. This suggests SOL's price may rise in the coming days. SOL has rebounded from a mid-September low and is currently trading around $157. Overcoming resistance levels at $160 and $170 could provide the momentum needed for further price increases.

Related News