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The altcoin sector has been rallying in the last 24 hours after suffering substantial declines as a result of overwhelming bearish momentum that crept in over the previous week. Short-term gains for altcoins like XRP, CHZ, and DOGE look promising, with prices the by up to 12%.
The price of XRP has risen significantly, and it currently stands at $1.19, with a market capitalisation of more than $50 billion. Over the last 24 hours, the price of XRP has risen by more than 12%, and it is now on the verge of challenging immediate resistance about $1.25. If a price reversal occurs spontaneously, it can depend on the $1.03 support level.
EMA ribbons have stabilised above the current selling price and have given some resistance to the price’s upward push. In the short term, the RSI tracker seemed promising and bullish as it moved into the overbought areas.
Chiliz is currently ranked 52nd on CoinMarketCap’s ranking, trading at $0.44 with a market capitalisation of $2.3 billion. The coin’s price had risen by nearly 12% in the previous 24 hours and was on the verge of testing the resistance level of $0.46. If a pattern turnaround occurs, there is still solid support at $0.39.
Bollinger Bands were contracting, indicating that the economy would be less volatile than it had been in early April. The RSI index was approaching overbought territory, indicating a high probability of short-term returns.
Dogecoin’s price remained at $0.26 at press time, but in contrast to the other altcoins, DOGE’s price movement has been fairly sideways. The market activity has been range-bound, with immediate opposition at $0.30 and help at $0.23.
Bollinger Bands have converged significantly, and the absence of uncertainty suggests that DOGE will undoubtedly remain range-bound for the majority of the coming week. The MACD predictor recently completed a bullish crossover; however, a reversal cannot be ruled out.