Ripple Price Analysis: XRP eases within a one-month falling channel
XRP/USD drops to 0.5170 during the early Tuesday’s trading. The crypto major dropped below 200-bar SMA the previous day before bouncing off 0.4980. The latest moves have been confined between 0.5100 and 0.5300 while bearish MACD suggests further weakness.
As a result, short-term XRP/USD sellers can eye support line of a descending trend channel formation established since November 26, at 0.4308 now, during the further downside. Though, the 0.5000 threshold may offer immediate support.
Dash price dives by 15% but on-chain metrics remain heavily bullish
Dash was trading as high as $120 on December 21 before a massive sell-off down to $101.97. The digital asset is now trying to hold a critical support level to see a rebound as most on-chain metrics are still positive.
On the 4-hour chart, Dash price slipped towards the 50-SMA at $104 but managed to hold this critical support level for now. It seems that the digital asset is ready for a rebound as long as the bulls continue defending this level.
Cardano Price Prediction: ADA in no-trade zone while momentum builds for high volatility
Cardano attempted to crack the 2020-high of $0.182 on December 17, but bulls came off short and only managed to push ADA to $0.176 before a violent sell-off in the next four days. It seems that bears are pushing Cardano price towards $0.14.
ADA has formed a symmetrical triangle pattern on the 12-hour chart and it’s trading at $0.152 at the time of writing. Bulls have lost the 50-SMA support level and it seems that the next bearish price target is the lower trendline of the pattern at $0.14.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”
Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.
Bitcoin still consolidates despite positive spot ETFs demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
Why is ONDO’s price outlook bullish?
DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.
Maker price eyes a rally on technicals and on-chain metrics
Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.