The recent surge in XRP's price has led to caution signals as a possible reversal candle on the daily chart suggests a slowdown in the bullish trend. XRP is exhibiting signs of hesitancy near the $3 resistance level, a historically challenging obstacle for traders. The asset is overbought, according to RSI readings, raising concerns about a short-term decline. Immediate support is predicted at $2.40, with a more severe correction potentially bringing the price down to $2.00. However, if the reversal signal is invalidated and XRP breaks above $3 with significant volume, it could continue to move higher, possibly reaching $3.50 or more.
Ethereum, on the other hand, is showing bullish indicators and may be gearing up for a surge towards the $4,000 mark. The cryptocurrency has recovered above critical moving averages, and a golden cross pattern has been indicated as the 50-day EMA crossed above the 200-day EMA. Ethereum is currently trading close to $3,610 and is still above the 21-day EMA, which has been a dynamic support level in its rally. However, RSI levels are approaching overbought territory, which may cause a temporary decline or consolidation. Resistance at $3,700 could act as a barrier, but if Ethereum maintains volume and bullish sentiment, it could aim for $4,000.
Dogecoin is displaying an ascending flag pattern on its daily chart, suggesting a bullish continuation. The price is currently in a consolidation phase after a rally in November and is holding above the 21-day EMA at around $0.38. A breakout above the upper trend line of the flag, currently around $0.44, may indicate an extension of the previous bullish trend. Purchasing volume increase and a target of $0.50 would validate the breakout, with the potential for DOGE to reach $0.60. However, if DOGE fails to maintain the 21-day EMA, it could move towards the $0.36 support level. Short-term pullbacks are possible, as indicated by the RSI, but overall market sentiment for DOGE remains positive.
- Content Editor ( u.today )
- 2024-12-04
XRP Skyrocketing Over? Ethereum (ETH) $4,000: Is It Ready? Dogecoin (DOGE) Forms Flag Pattern