XRP, VeChain, Dogecoin Price Movement Analysis for 8th September, 2021

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Following broader market trends, XRP, VeChain, and Dogecoin have all suffered significant losses in the recent 24 hours. After a 202.2 percent drop, XRP reversed its weekly gains. VeChain was trading below its weekly low after falling more than 20%. Dogecoin is aiming for a monthly low of $0.209.

XRP

XRP was trading at $1.08 after breaking below the $1.19 support line. The altcoin has dropped by 20.2 percent in the last 24 hours. It has reversed its one-week gains at the current price level. It had an instant support level of $0.93. Price action was indicating a downward trend, according to technical indications.

On the histograms, MACD showed red bars. As of press time, the Awesome Oscillator was displaying red signal bars and a green signal bar towards the finish, indicating that the most recent trading session was in the green. The Bollinger Bands remained divergent, indicating that prices may see strong volatility in the coming trading sessions.

On the other had, XRP might topple over the $1.19 price ceiling, after which it could attempt to retest the $1.30. If the coin manages to successfully trade over the $1.30 longer than just a few sessions, XRP might revisit its four-month high at $1.39.

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VeChain (VET)

XRP, VeChain and Dogecoin Price Analysis: 08 September

VET/USD, TradingView

VET was trading at $0.117, staying above its immediate support of $0.109. The coin has decreased by more than 20% in the last day. VET’s current prices were lower than the previous week’s low.

If the altcoin continues to plummet, it might reach $0.098, its one-month low price point.

Despite the coin making a comeback to stay above the oversold zone, the Relative Strength Index was below the midpoint. MACD displayed red bars on its histogram, and Awesome Oscillator also displayed red signal bars in response.

A price recovery could push VET to topple over its $0.124 resistance level. Additional price ceilings awaited the altcoin at $0.139 and then at its multi-month high of $0.154.

Dogecoin (DOGE)

XRP, VeChain and Dogecoin Price Analysis: 08 September

DOGE/USD, TradingView

Dogecoin has dropped 16.8 percent in the last 24 hours and is now trading at $0.248. It went below its support line of $0.270, and if the downturn continues, it might return to its monthly low of $0.209. The market’s key indicators indicated a downward trend.

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After a bearish crossover, MACD showed red bars on its histograms. The Relative Strength Index was trading below the half-line, attempting to recover and move above the oversold level. The indicator had dropped to a multi-month low.

Chaikin Money Flow remained below the mid-line, indicating a decrease in capital inflows.

If buying pressure returns, the altcoin might break through the $0.270 resistance level and trade near the $0.307 price cap. Successfully toppling which it could revisit its multi-month high of $0.343.

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