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Many of the market’s altcoins were seeing their values rise as a result of revived bullish momentum. Bitcoin saw a small price increase of more than 2%, moving past the $53k mark, which has increased the values of many altcoins. Popular altcoins such as Aave, DOGE, XRP, and SushiSwap have all seen their prices rise to varying degrees in the last 24 hours.
Aave’s price increased by 5% in the last 24 hours, to $402, with a $636 million 24-hour trading rate. The coin is likely to come into touch with a high resistance range of $415, which was last broken on April 18th. If the pattern continues to reverse, there is solid support at $371.
The MACD indicator has completed a bullish crossover, and the RSI has also appeared highly favourable in the current market. The RSI was on the verge of joining the overbought sector, indicating that the AAVE market was experiencing consistent bullish momentum.
Dogecoin has now established itself as a top-10 cryptocurrency. DOGE’s price has risen marginally in the last day, and it is now trading at $0.26. Unlike the other coins, DOGE’s market movement has been highly range-bound, trading between $0.25 and $0.30.
EMA ribbons have settled by the coin’s selling price and are expected to give resistance as DOGE attempts to approach the immediate resistance. The RSI, on the other hand, has remained in the neutral zone, indicating that buyers and sellers were cancelling each other out.
XRP has seen a large price increase of 27 percent in the last 24 hours. The coin was trading at $1.43 and was getting closer to resistance at $1.5; if a pattern turnaround occurs, there are still two solid supports at $1.25 and $1.03.
The coin’s technical metrics seemed to be promising. The MACD predictor has completed a bullish crossover, indicating that a turnaround is unlikely. The stochastic indicator had entered the overbought region and indicated high buyer concentration.
At the time of publishing, SUSHI was on a good turnaround streak and was on the verge of breaking through the $12.72 resistance level. SUSHI was worth $12.4 at the time of writing and had a market capitalisation of $1.5 billion. If immediate resistance falls, SUSHI may be well on the way to achieving a complete recovery. SUSHI, on the other hand, should rely on the $11.6 price range to help sustain the price in the event of a trend turnaround.
The MACD indicator has made a bullish crossover, while the RSI has moved closer to the overbought zone. SUSHI is expected to break through the immediate resistance shortly, given the solid bullish momentum.