238 Interactions, 2 today
And after Bitcoin reclaimed the region above $58,000, altcoins like XRP and Dogecoin awaited additional clues to climb above those resistance thresholds on their respective charts. Uniswap, on the other hand, soared beyond its expected price point, but a marginal dip at $44 or $42 was predicted.
Bollinger Bands on XRP were squeezed as uncertainty persisted at the market’s low end. Meanwhile, 24-hour trading rates were down nearly 30%, and sudden swings did not seem imminent, at least in the coming sessions. The Squeeze Momentum Indicator shows diminishing bullish momentum, but this is expected to change once the market reaches $1.5 support.
As discussed in a previous review, XRP was likely to shift sideways. A break through the big resistance level of $1.65 could open the door to gains all the way to $1.97, but more bullish cues were needed for such a jump.
As the price traded between $0.40 and $0.37, Dogecoin reflected a reasonably balanced market, but a break over this upper ceiling might cause DOGE to rocket north. The RSI remained above 60, while the MACD revealed a bearish crossover between the fast-moving line and the Signal line. These contradictory signals indicated that DOGE would oscillate between its current channel in the future.
The 24-hour trading rates must be monitored for the next few days. While it is currently worth $5.7 billion, a sudden increase will indicate a sharp upswing on the way. Buying at the current price was also an option.Meanwhile, momentum must also be observed before Elon Musk’s ‘Saturday Night Live’ appearance on May 8. Many have speculated that Dogecoin would be mentioned on the show after a recent tweet by the Tesla CEO.
Uniswap has risen 12 percent in the last 24 hours, exceeding its forecast goal of $44. The next goal was the 161.8 percent Fibonacci level at $47, and bullish market conditions could push UNI there, but there was some doubt in the market.
As the RSI traded on the outskirts of the overbought sector, it was necessary to stabilise before the next leg upwards. Also OBV fell at the time of publishing, indicating that the market was under some selling pressure. In the event of a drop, funding can be found at $44 or even $42.