Market Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD, Dogecoin, XRP/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Solana is targeting $40, as Ripple moves above $0.55, Chainlink breaks out, and Dogecoin aims for $0.097
While Bitcoin's ascent appears to be slowing down as it approaches the $35,000 threshold, the cryptocurrency continues to demonstrate resilience within the $34,000 range. Accordingly, SOL may see weakening demand in this region. While $33.3 is seen as the closest resistance for cryptocurrency, we can see that profit sales will start to accelerate as daily closes below this level. The nearest support point is seen at an average of $29.8.
However, there are two critical resistances for XRP to extend its uptrend into the long term. XRP first needs to establish a floor above the $0.55 band, which corresponds to Fib 0.236 according to the last retracement. We can see that short-term EMA values also generate signals to support the rise by exceeding this price level.
The cryptocurrency, which has appreciated by nearly 60% since last week, is now at $12.2, the closest point of resistance. In the lower zone, failure to protect $9 in a possible pullback may invalidate the bullish setup and LINK may return to the sideways movement below $ 8.DOGE has been moving along a band throughout 2023, starting a bearish trend at the end of the year after volatile movements that started in October last year.
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