In recent days, the world of crypto trading has been dominated by fear, leading to a 3% decrease in global market capitalization, now valued at $2.04 trillion. Investor apprehension has
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XRP Price Nears $0.60: Is A Major Pump Imminent?
XRP price is again moving higher above $0.580. The price could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels. XRP price remained supported near the $0.5700 zone. The price is now trading above $0.580 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance at $0.5720 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels. XRP Price Eyes Upside Break XRP price formed a base above $0.5620 and started a fresh increase like Bitcoin and Ethereum. The price was able to clear the $0.5720 and $0.5850 resistance levels. There was a break above a major bearish trend line with resistance at $0.5720 on the hourly chart of the XRP/USD pair. The bulls even pushed the price above the 61.8% Fib retracement level of the downward move from the $0.5932 swing high to the $0.5622 low. The price is now trading above $0.580 and the 100-hourly Simple Moving Average. The price is now consolidating near the 76.4% Fib retracement level of the downward move from the $0.5932 swing high to the $0.5622 low. On the upside, the price might face resistance near the $0.5880 level. The first major resistance is near the $0.5920 level. The next key resistance could be $0.600. A clear move above the $0.600 resistance might send the price toward the $0.6160 resistance. The next major resistance is near the $0.6220 level. Any more gains might send the price toward the $0.6320 resistance or even $0.6350 in the near term. Another Decline? If XRP fails to clear the $0.5920 resistance zone, it could start another decline. Initial support on the downside is near the $0.580 level and the 100-hourly Simple Moving Average. The next major support is near the $0.5690 level. If there is a downside break and a close below the $0.5690 level, the price might continue to decline toward the $0.5620 support in the near term. The next major support sits at $0.5550. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5820 and $0.5790. Major Resistance Levels – $0.5920 and $0.6000. CoinOtag
Ethereum Trails Bitcoin, But Bullish Momentum Gains Strength
Ethereum price started a fresh upward move above the $2,335 resistance. ETH is now aiming for more upsides above the $2,420 resistance. Ethereum started another increase from the $2,280 resistance. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,420 resistance to continue higher in the near term. Ethereum Price Aims Higher Ethereum price formed a base near $2,280 and started a fresh increase like Bitcoin. ETH was able to clear the $2,320 and $2,350 resistance levels. BTC gained over 5% but ETH struggled to match the strength. It cleared the 76.4% Fib retracement level of the downward wave from the $2,392 swing high to the $2,277 low. It even traded above the $2,392 high and is now showing positive signs. Ethereum price is now trading above $2,350 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,420 level. It is close to the 1.236 Fib extension level of the downward wave from the $2,392 swing high to the $2,277 low. The first major resistance is near the $2,450 level. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750. Are Dips Supported In ETH? If Ethereum fails to clear the $2,420 resistance, it could start another decline in the near term. Initial support on the downside is near $2,365. The first major support sits near the $2,310 zone and the trend line zone. A clear move below the $2,310 support might push the price toward $2,280. Any more losses might send the price toward the $2,220 support level in the near term. The next key support sits at $2,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,310 Major Resistance Level – $2,420 CoinOtag