A descending channel breakdown heightened XRP’s losses. It was trading at a 9.3% discount over the last 24 hours. With XRP slipping below 20-SMA (red) and 50-SMA (yellow), a double bottom at $0.86 could initiate trigger a bullish comeback, should the price weaken below its 200-SMA (green) as well. XRP Daily Chart XRP’s up-channel breakdownContinue reading “These support zones will help cushion XRP’s jump down the ladder”

Hit by a 12% drawdown over the last 24 hours, Bitcoin Cash fell prey to a correction in the broader market. On the charts, BCH projected a new low at a bottom sloping trendline due to red flags present on the daily RSI and MACD. However, a bullish rebound was expected between $533-$503. The sameContinue reading “Bitcoin Cash eyes pickup at this near-term support zone”

Bitcoin’s drop-off from $66,000 triggered a market wide correction. As a result, the total crypto market cap dropped by nearly 8% over the last 24 hours to a total of $2.63 Trillion. Smart contract operator VeChain did not fare too well either and shed nearly 9% of its value when compared to yesterday’s close. However,Continue reading “VeChain sets up early reversal after hourly RSI touches oversold territory”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Mirroring a wider market correction, Solana registered a 5.7% drop over the last 24 hours. Furthermore, a descending triangle setup exposed the market to a deeper retracement, should the 200-SMA (green) fail to cushion incomingContinue reading “Solana’s descending triangle threatens deeper sell-off”

Cardano has been in a constant downtrend since early-September and has struggled to recover lost ground even during broader market rallies. The last rally was observed between 5-10 November, although bulls were unable to clear the 38.2% Fibonacci level. Over the near-term, ADA could continue its consolidation and expect traders to shift back to longContinue reading “Here’s how Cardano can break away from its bearish shackles”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Following a breakdown from a previous triangle setup, Shiba Inu looks to claw back lost ground from yet another symmetrical triangle setup. A recovery along the RSI underpinned SHIB’s development within the triangle, although atContinue reading “These might be two of Shiba Inu’s possible breakout scenarios”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Ethereum Classic has oscillated within its 38.2% and 23.6% Fibonacci levels since early October, with breakouts on either side rejected immediately. However, the market’s bulls, at press time, were attempting to turn the tide inContinue reading “Assessing the odds of Ethereum Classic eyeing an immediate 13% hike”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice AVAX has had a solid November so far. A new all-time high was set at $101.68, following a 70% increase over the last 15 days alone. On the chart, three major rallies were followed byContinue reading “Avalanche: AVAX might see new low after RSI spots bearish divergence”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Tron’s gains have been measured over the past month, with its ROI sitting at a respectable 13.5%. While those numbers pale in comparison with smart contract operator Solana’s surge of over 61%, Tron hasContinue reading “What you should know about the threat to Tron’s price action”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice MATIC is undergoing a bearish crunch at the moment, with its 4-hour RSI and MACD trading below their respective half-lines. Having shed nearly 20% of its value within a down-channel which has lasted forContinue reading “MATIC’s down-channel projects two possible breakout scenarios”

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice LUNA’s ascending wedge has been forming for over a month and it is now, threatening a potential 46% sell-off. Traders must be cautious of a close below the confluence of the 4-hour 200-SMA (green) andContinue reading “LUNA may be in danger of 46% sell-off due to this ascending wedge”

Ethereum is eyeing a near-term correction following a bearish crossover on the MACD and a double top along the RSI. With the EMA Ribbons still flashing a healthy position, ETH had plenty of defensive resources at its disposal. Once selling pressure is relieved, expect ETH to make headway towards the $5,000 mark. At the timeContinue reading “Ethereum shifts to near-term support with $5,000 beckoning”