XRP to Hit Key Level in 3 Days, Dogecoin (DOGE) Might Lose $0.30, Solana (SOL) Just Blundered

XRP Price Analysis: Consolidating Within a Narrowing Triangle

XRP's price action has entered a crucial phase as it consolidates within a narrowing triangle pattern. The token, currently trading at $2.25, is approaching its 50 EMA ($2.15), which will likely determine its short-term trajectory.

Bulls aim to defend the 50 EMA, while bears may push the price toward $2.00, aligning with a long-term trendline. A deeper retracement could even target $1.80 or the 100 EMA ($1.63).

Despite the RSI hovering around 50, indicating indecision, low trading volume suggests a lack of momentum. A breakout or breakdown is expected, but this lack of momentum may delay significant price movements.

Traders should monitor the $2.15 support and $2.50 resistance levels for clues regarding XRP's immediate direction. Patience and caution are advised as the market prepares for its next major move.

Dogecoin Approaching Crucial Support Level

Dogecoin has declined by 5.57%, trading at $0.3225. Approaching a crucial support at $0.30, the token faces resistance at the 100 EMA ($0.2994).

The bearish sentiment and low trading volume raise concerns about DOGE's ability to maintain this support. However, it has historically served as a buffer against sell-offs.

Failure to rebound from the 100 EMA could lead to a decline towards the 200 EMA ($0.30), the last line of defense before a protracted downward trend. A recovery would require reclaiming $0.35, opening the door for a return to recent highs of $0.37.

Solana Slides Below Crucial Support

Solana has fallen 5.43% to $186, breaching its 100 EMA at $196. This breakdown suggests a shift in momentum, and continued bearish pressure may worsen the situation.

Increasing trading volume raises concerns about accelerated selling, potentially leading to further downward pressure. The 200 EMA ($178) becomes the next critical support level to watch.

A break below the 200 EMA could retest $150, a key psychological support. Given the market conditions and high volume, this level may be tested soon.

Recovery would require Solana to reclaim $196, while $203 and $216 remain critical resistance points. Unless buyers intervene to defend key support levels, Solana's prospects remain bearish.

Traders should monitor volume and price action around the 200 EMA to gauge the token's short-term trajectory. Continued selling pressure could lead to a significant correction. Read original article on