Dogecoin, XRP, Tron Market Analysis for 17th January 2021

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XRP was unable to break the $0.3 level of resistance as it traded in the $0.28 region, as well as announcements that it would be removed from popular exchanges. Tron shifted a level of resistance to support, but did not have a strong upside momentum, and Dogecoin was still on the charts as well.

Dogecoin [DOGE]

XRP, Tron, Dogecoin Price Analysis: 17 January

Source: DOGE/USDT on TradingView

On the 1-hour chart, DOGE showed little momentum in either direction as DOGE continued to trade sideways in the $0.009 region. The volume of trading was low.

The Bollinger bands have tightened around the price, and the 20 SMA (white) bands have been flat in the last few days. The width indicator for the Bollinger band also tended to be lower. Even on the 4-hour chart (not shown), the volatility has been declining over the last few days.


XRP, Tron, Dogecoin Price Analysis: 17 January

Source: XRP/USD on TradingView

Using Gann’s 8ths rule for the range between $0.3 and $0.17 for XRP, some intermediate support levels are highlighted. On the 4-hour charts, the RSI remained below the neutral 50 value, indicating a downtrend. However, the momentum for XRP in the short term has been neutral.

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Trading volume has been minimal over the past week, even as the price has increased multiple times to test the $0.3 resistance level.

In other news, Kraken became the latest exchange to drop support for the XRP/USD pair and announced that US residents will not be able to trade XRP on January 29.

Tron [TRX]

XRP, Tron, Dogecoin Price Analysis: 17 January

Source: TRX/USDT on TradingView

TRX respected the 2/1 Gann fan line as a resistance but was able to flip the $0.03 level to support it. The MACD showed that the momentum shifted to favor the bulls as it formed a bullish crossover and rose above the zero line.

The OBV did not show spectacular purchase volumes, but the purchase volume rose throughout January. Over the past few days, a balance has been established between buying and selling, a factor that needs to change if TRX is to rise to $0.032.

The 2/1 fan line can be expected to serve as resistance again – the above-average trading volume to move upside down is required to flip it to support. There is still no evidence of such a move.

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