Crypto Price Analysis Feb-11: Ethereum, Ripple, Cardano, Solana and Shiba Inu

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Shiba Inu.

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Ethereum (ETH)

ETH failed to push above $3,200 this week and fell back on the $3,000 support level yesterday, where the price is now consolidating. Despite this most recent pullback, the cryptocurrency had a stellar performance this week, with a 16% price increase in the past seven days.

The big question is if ETH can hold above $3,000. If it manages to do so, then bulls might be in a position for another shot at the $3,200 resistance in the coming week. If they fail, however, the cryptocurrency could fall to the next support level at $2,800, which would make it lose a critical psychological level ($3,000).

Looking ahead, the indicators remain bullish, which gives reasons to be optimistic. Buyers need to defend the $3,000 level. Otherwise, sellers may take over the price action in the coming week.

ETHUSD_2022-02-11_11-11-14
Chart by TradingView

Ripple (XRP)

XRP had a major breakout this week, with the price moving above the key resistance at $0.70 and quickly reaching $0.90 after that. Overall, it was a fantastic week for XRP with a 34% price increase.

However, it failed to push above $0.90 and is now found in a correction with support at $0.80. This is not surprising, considering the massive rally that happened not too long ago. If $0.80 fails, then XRP may fall all the way back on the $0.70 level, which is now acting as support (was resistance before the breakout).

The indicators are still bullish for XRP, and this pullback can also be explained by the daily RSI, which briefly entered overbought conditions during the rally and now fell back below 70 points. Once this correction is over, XRP may attempt a new rally to test the critical psychological level at $1.

XRPUSDT_2022-02-11_11-16-48
Chart by TradingView

Cardano (ADA)

ADA also had a good week, but the resistance at $1.2 did not allow it to move higher, and it has been struggling since then. Nevertheless, the cryptocurrency closes the last seven days in green with a nice 9% price increase.

Considering the ongoing correction, ADA may fall back on the key support at $1.1 before any renewed rally can be expected. Even if this happens, the overall price action remains bullish, and after the pullback, ADA may rally once more and try to cross above $1.2.

The indicators remain bullish and seem likely to stay if ADA does not fall under the key support. This should prepare it for a nice rally next week if the bullish momentum resumes. On the other hand, a drop under $1.1 would likely push ADA into a bearish trend.

ADAUSDT_2022-02-11_11-18-47
Chart by TradingView

Solana (SOL)

After a rally to $120, SOL failed to move higher, and since then, the price has been falling towards the key support at $100. It is unlikely for SOL to turn back right now, and a test of the key support appears probable. Despite the current correction, SOL still managed to close the past seven days in green with a 5% price increase.

Volume has been falling as price went higher last week, which was an early signal that SOL did not have the momentum to sustain the rally. The MACD remains bullish on the daily timeframe, but the histogram is showing a loss of momentum with lower highs.

Next week will be crucial for SOL, and buyers have to do their best to defend the $100 level. Any failure there will only embolden sellers to take SOL under $100, which would be a significant defeat.

SOLUSDT_2022-02-11_11-26-59
Chart by TradingView

Shiba Inu (SHIB)

SHIB has been the best performer from our list, with a 50% price increase in the past seven days after a major breakout from the descending channel (in blue on the chart). Now, the price is consolidating above the key support at $0.000029.

If this consolidation continues and the support level holds, then SHIB may chart another leg up, which could take it all the way to $0.000040. The indicators remain bullish for now, and the only concern is the decreasing volume, which may cast some doubts on the strength of this rally.

Looking ahead, SHIB has put an end to the downtrend and started a new surge with a bang. It is unlikely for SHIB to make a lower low considering this latest development. Therefore, the most probable scenario now seems to be a consolidation or continuation of the rally.

SHIBUSDT_2022-02-11_11-37-02
Chart by TradingView

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Ripple Price Analysis: Here’s the Next Target for Ripple After Breaking Above $0.7

Key Support levels: $0.70

Key Resistance level: $0.96, $1

Ripple’s XRP broke the critical resistance at $0.70 with significant volume yesterday, and the price rallied all the way to $0.91 (Bitstamp exchange). The previous resistance has now turned into support, and the next key levels to watch are at $0.96 and $1.

After a sharp rally yesterday, XRP may consolidate or suffer from a temporary pullback in the next few days before testing the $1 level.

XRPUSDT_2022-02-08_14-11-41
Chart by TradingView

Technical Indicators

Trading Volume: Strong buy volume yesterday and today. This confirms the breakout and gives confidence that XRP may eventually test the key psychological level at $1.

RSI: The daily RSI is in the overbought area at over 70 points. There is still space to go higher but it’s important to remain very careful at these levels.

MACD: The daily MACD continues to move higher with expanding moving averages and higher highs on the histogram. There is no expectation for this momentum to change at this time based on the MACD therefore, the likelihood of price reaching $1 appears high.

XRPUSDT_2022-02-08_14-11-15
Chart by TradingView

Bias

The current XRP bias is bullish. The break above $0.70 has changed the bias to bullish.

Short-Term Prediction for XRP Price

The volume and momentum behind this latest price action are positive, and it seems likely for XRP to reach $1 before any significant resistance is faced. There is also the possibility of some short-term pullbacks on the way there, but the overall price action remains bullish.

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Bitcoin Touched $43K: Ripple Soars 12% to a 3-Week High (Market Watch)

Bitcoin’s recent bullish run continued with another minor leg up that drove it to a high of $43,000. Most altcoins have produced similar slight increases; some, such as Shiba Inu and XRP, have exploded with massive double-digit pumps.

Bitcoin Touched $43K

Ever since last Friday, when the cryptocurrency began its rapid ascent from $37,500, the BTC landscape has remained significantly more positive. Bitcoin surged to and beyond $40,000 in a matter of hours for the first time since mid-January.

The asset remained relatively calm, around $41,500 during the weekend before it initiated another price increase. This time, the bulls drove it to $43,000 for the first time since the market-wide correction started on January 21st.

As of now, BTC has been unable to reclaim that level decisively and has retraced by a few hundred dollars. Nevertheless, its market capitalization has surged above $800 billion. Just last week, the metric was down below $700 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SHIB and XRP Steal the Show

Most alternative coins followed BTC on the way up with impressive gains in the past several days. Ethereum, for example, struggled to remain above $2,000 just a week or so ago. Now, though, the second-largest cryptocurrency stands well above $3,000 and even challenged $3,100 a few hours ago.




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Binance Coin, Cardano, Solana, Polkadot, and Terra have marked similar gains in the past 24 hours of between 2% and 4%. More impressive increases come from Dogecoin and Avalanche.

However, Ripple and Shiba Inu have taken the main stage from the larger-cap alts. SHIB has exploded by more than 20% in a day, as reported earlier, and stands near $0.00003.

XRP, on the other hand, is up by approximately 13%. As a result, the asset tapped a three-week high at over $0.75.

More gains come from Quant (17%), BitTorrent (16%), LEO (14%), Kadena (13%), Loopring (12%), Gala (10%), and Fantom (10%).

The crypto market cap has increased by about $60 billion since yesterday and stands at $1.950 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Ripple Price Analysis: XRP Rallies Above $0.65, But Massive Resistance Awaits

XRP managed to break above the key resistance at $0.65 on Friday, as the price has been consolidating above this level since then. The question is if $0.65 can be tested and confirmed as support so that XRP can continue even higher.

Key Support levels: $0.65, $0.58

Key Resistance level: $0.70, $0.79

Ripple’s XRP had seen a green weekend so far, managing to hold above $0.65, which has now turned into support.

There seems to be a break in momentum, indicating some indecision in the price action. The next challenge for XRP is to break the key resistance at $0.70, which would open the way for a $1 attempt once again.

XRPUSDT_2022-02-06_13-28-14
Chart by TradingView

Technical Indicators

Trading Volume: Decent amount of volume on Friday and Saturday. However, today’s volume (Sunday) is quite low.

RSI: The daily RSI has made a higher high, therefore a possible pullback is likely. This will be a retest of the key support at $0.65 before continuing.

MACD: The daily MACD remains bullish and has sufficient momentum behind it even considering today’s low volume. The histogram continues to make higher highs which is bullish.

XRPUSDT_2022-02-06_13-28-48
Chart by TradingView

Bias

The current XRP bias is bullish. However, the $0.70 resistance does not leave a lot of room for the price to move higher without a pullback or consolidation.

Better keep a close eye on Monday’s price action to assess the next move for XRP.

Short-Term Prediction for XRP Price

XRP has turned bullish over the weekend, as long as it maintains the key support. If momentum continues, a break above $0.70 becomes likely. However, the latter could be challenging as sellers will likely fight at resistance before letting XRP move higher towards $1.

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Crypto Price Analysis Feb-4: Ethereum, Ripple, Solana, Binance Coin, and Luna

This week, we take a closer look at Ethereum, Ripple, Solana, Binance Coin, and Luna.

img1_cryptopost

Ethereum (ETH)

ETH had a very good week, rallying over 17%. Today, the cryptocurrency broke the critical resistance at $2,800 and the price appears ready to move higher towards the next target at $3,000. This latest move higher comes after ETH retested the key support level at $2,500 yesterday.

This price action puts an end to the correction and brings certain optimism to the market. The key question is if ETH can now move beyond the $3,000 resistance. A break above this level would consolidate the most recent gains and open the door to a more significant recovery.

However, the volume on this latest push is not that impressive. As the price moves higher, the bullish momentum has to intensify, otherwise, the price could be rejected at the key resistance by the sellers. The coming week will be decisive in where ETH moves next.

ETHUSD_2022-02-04_13-09-37
Chart by TradingView

Ripple (XRP)

This past week, XRP suffered from a flat trend with price moving sideways, lacking momentum to break away from its current range. The resistance at $0.65 and the support at $0.58 have kept the cryptocurrency in check, and any attempts by the bulls or bears to break away were stopped.

The most recent try to break below the key support level failed and bulls are back in control of the price but seem unable to push XRP to the important resistance. For this reason, in the past seven days, XRP only increased in price by 1%.

At the time of this post, XRP lacks momentum and volume appears flat. This makes any significant move unlikely in the near term. If BTC and ETH have a major breakout, XRP may attempt to break from this range in the coming week. Otherwise, the flat trend is likely to continue.

XRPUSDT_2022-02-04_13-15-32
Chart by TradingView

Solana (SOL)

SOL had a good week and also broke above the $100 level, which was a key resistance in the past seven days. Now, the price is consolidating just above this level, concluding the week with an impressive 17% increase.

The biggest challenge for SOL right now is if it can move higher towards the next key resistance at $130. The current price action and indicators support a continuation towards this key level, but a break above it appears unlikely at the time of this post.

Looking ahead, SOL is well-positioned to recover its losses from the most recent correction, and the current volume favors the bullish side of the market. So long this positive momentum is maintained, the cryptocurrency appears ready to move higher.

SOLUSDT_2022-02-04_13-22-02
Chart by TradingView

Binance Coin (BNB)

After BNB fell under $400, the price finally found support at the $335 level, which has stopped the cryptocurrency from moving lower – so far. Similar to XRP, the price action in the past seven days was flat, and BNB lost 3% of its dollar value.

Currently, BNB is consolidating and may attempt a rally in the coming week towards the key resistance at $418. Reclaiming this level would be essential if BNB is to move higher in the future. A failure, on the other hand, would mean the consolidation may take much longer.

The indicators favor the bulls at this time, but this bias may be soon put to the test as the price moves towards the key resistance. Either way, considering the latest price action, it is unlikely for BNB to fall much lower, and an uptrend seems more likely in the coming week.

BNBUSDT_2022-02-04_13-30-14
Chart by TradingView

Luna

Luna’s downtrend has ended this past week, with the price finding support at around $45. Now, the cryptocurrency is hovering below the key resistance at $54 which has prevented the price from moving higher in the past few days. Overall, Luna’s weekly performance was poor, with a 6% decline.

The indicators have not turned bullish yet and Luna appears to consolidate under the key resistance. Nevertheless, the RSI is making higher lows on the daily timeframe and the MACD could do a bullish crossover if this price action is maintained in the next few days.

Looking ahead, Luna is likely to attempt a break above the $54 level and may rally if successful. However, the current volume is weak and a breakout appears unlikely at this time. Luna may need another few days of consolidation before a breakout is attempted.

LUNAUSDT_2022-02-04_13-42-58
Chart by TradingView

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Ripple Price Analysis: XRP Failed to Break Resistance, Now Facing Critical Support Again

Like the recent crypto momentum, XRP had seen some bullish momentum, retesting the key resistance. However, bears took over the market together with Bitcoin’s rejection of the $40K zone. Key support still lies amid $0.58.

Key Support levels: $0.58, $0.50

Key Resistance level: $0.65, $0.70

XRP rallied almost 10% on Monday and Tuesday but lost most of these gains following a strong pushback from the bears in the second half of the week. The key resistance lies at $0.65 and if the selling intensifies, XRP will likely test the key support at $0.58.

XRPUSDT_2022-02-03_12-23-50
Chart by TradingView

Technical Indicators

Trading Volume: The bears took over the market in the last few days and pushed XRP into the red. However, the current sell pressure is on low volume (so far), and it may be short-lived for that reason.

RSI: The daily RSI has been making higher lows, which is a promising sign. Until the RSI makes a higher high, it is unlikely that the current downtrend will end.

MACD: The daily MACD did a bullish crossover on Tuesday, encouraging buyers. However, their excitement was cut short when bears took over the price action. For now, the MACD remains bullish and this may be a short-lived pullback.

XRPUSDT_2022-02-03_12-23-24
Chart by TradingView

Bias

The current XRP bias is neutral, and a break of the critical resistance is needed to change the bias to bullish.

Short-Term Prediction for XRP Price

The MACD gives a bullish signal, but it may be too early to act on it as bears have taken over the price action. For this reason, it is best to give the price action more time to show its true colors and XRP will likely continue to be found in a range between the key resistance and support in the near future.

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Ripple Price Analysis: XRP Facing Crucial Support Level As Bears in Control

XRP failed to push higher despite a temp recovery and dropped back towards the key support.

Key Support levels: $0.58, $0.50

Key Resistance level: $0.65, $0.70

XRP is facing once again the critical support level at $0.58 after the price broke down from its consolidation phase over the past few days.

This drop was followed by low volume; however, any weakness here may trigger a further breakdown. The resistance sits at $0.65 and is unlikely to be tested sometime over the next few days.

XRPUSDT_2022-01-31_15-05-39
Chart by TradingView

Technical Indicators

Trading Volume: XRP suffers from a minimal amount of volume, and buyers have been unable to move XRP’s price higher. Volume has also been declining since the sell-off on January 22.

RSI: With this latest drop in price, the daily RSI fell into the oversold area, and this shows weakness in the price action.

MACD: The daily MACD is bearish, and now the moving averages and histogram are expanding. This indicates on a bearish price action.

XRPUSDT_2022-01-31_15-05-06
Chart by TradingView

Bias

The current XRP bias is bearish, as indicators show weakness and bears appear to have the upper hand and control of the market.

Short-Term Prediction for XRP Price

After some hesitation and consolidation in a tight range, XRP fell back to the critical support at $0.58. If buyers cannot keep XRP above this key level, then XRP will likely fall to $0.50 where buyers may show more strength. At the time of this post, the momentum favors sellers.

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Crypto Price Analysis Jan-28: Ethereum, Ripple, Cardano, Solana, and Luna

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Luna,

Ethereum (ETH)

This past week, ETH finally found support after a significant crash under the $3,000 level. The support at $2,200 managed to stop the downtrend, and now the price is found in a consolidation mode below the key resistance at $2,550. It was not an easy week for ETH, losing 20% of its dollar value.

The cryptocurrency attempted to rally this past Wednesday, briefly reaching $2,725 before sellers pushed the price back below the key resistance. Since then, ETH has not managed to retest the level and has moved sideways. While this shows some indecision in the price action, at least this most recent move has prevented ETH from dropping lower.

As price consolidates, market participants become more uneasy because there is no way to know if this consolidation precedes a further correction or a recovery. The indicators do not bring any confidence on the buyer side, and the overall market appears weak.

ETHUSD_2022-01-28_11-37-55
Chart by TradingView

Ripple (XRP)

XRP has been moving just above the key support level at $0.58 for most days in the past week after a significant drop last Friday. Overall, XRP fell by 17% compared to seven days ago and has failed to recover most of the recent losses.

The current price action does not inspire confidence, and a retest of the key support appears likely. The resistance is found at $0.65, and the last retest was sharply rejected by the bears. Since then, the price has been on a slow descent towards support.

Looking ahead, XRP lacks buying pressure to attempt a breakout, and if the market remains weak, it may be that sellers will take advantage and push the cryptocurrency lower yet again. The RSI on the daily timeframe has not left the oversold area in over a week now. This signals a strong downtrend as the bias remains bearish for XRP.

XRPUSDT_2022-01-28_11-46-45
Chart by TradingView

Cardano (ADA)

ADA appears on a clear path towards testing the support at $1 after failing to rally beyond the resistance at $1.1. Price has continued to make lower highs, and in the past seven days, ADA lost 19% of its dollar value.

Moreover, ever since the cryptocurrency made its all-time high at $3.1, the trend has been bearish, with lower lows and lower highs. The most recent lower low was made last Saturday. This re-confirms the bearish trend, and continuation is the most likely outcome. Volume has also decreased substantially, which may explain why the price is hesitating on where to go next.

A break below $1 might have a major psychological impact on ADA’s future price action. Therefore, it’s expected to see a significant battle over the coming days as buyers and sellers will fight for dominance around this key level.

ADAUSDT_2022-01-28_11-56-26
Chart by TradingView

Solana (SOL)

SOL mirrors ADA and shows a similar level of uncertainty just above the key support at $79. The price action remains bearish with lower highs and lower lows after a failure to break above the key resistance at $100. A retest of the support appears likely, and SOL closed the past seven days in red, losing 30% of its value.

Sellers continue to dominate the price action, with five red daily candles in the past seven days. Moreover, the daily RSI has been moving flat in the oversold area at around 24 points for over a week. The failure of SOL to rally and move away from such extremes is a warning sign that sellers may not have finished their job yet.

Looking ahead, SOL has a good chance to stop the downtrend at the $79 support level. Then, if buyers return to the market, it can attempt a recovery.

SOLUSDT_2022-01-28_12-11-27
Chart by TradingView

Luna

Luna lost a key support level yesterday, falling under $54, and now the price appears ready to move lower. If buyers cannot stop this selloff, then Luna is likely to fall to the next support level at $42. Overall, it had a very disappointing week, losing 33% of its value over the past seven days.

The former support level at $54 has now turned into resistance, and the indicators are in a free fall. The daily RSI has not yet reached the oversold area, indicating that Luna can continue to fall for quite some time until it reaches this extreme that may attract buyers again.

The MACD histogram and moving averages are also expanding downward, with little evidence this selloff will end soon. Right now, the sellers dominate the chart with six red candles in the past seven days.

LUNAUSDT_2022-01-28_12-22-42
Chart by TradingView

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Ripple Price Analysis: Following a 20% Weekly Crash, What’s Next for XRP?

Key Support levels: $0.58, $0.50

Key Resistance level: $0.65, $0.70

After a very difficult last week, XRP appears to have found a good support level at $0.58, which has put a stop to the downtrend, at least momentarily. The resistance is not far off and sits at $0.65. Considering this price action, it may be that the bulk of this correction is behind us, and a relief rally may follow.

XRPUSDT_2022-01-25_14-39-30
Chart by TradingView

Technical Indicators

Trading Volume: The volume is decreasing after a very intense selloff last week. This explains why the price managed to hold above the key support.

RSI: The daily RSI is found in the oversold area and is trying to escape by moving higher. The first attempt was rejected, but the current price action may lead to another try.

MACD: The daily MACD remains bearish, and a consolidation period may be needed before any reversal can take place.

XRPUSDT_2022-01-25_14-39-16
Chart by TradingView

Bias

The current XRP bias is bearish, although sellers might be losing interest in taking it lower.

Short-Term Prediction for XRP Price

It appears that one of the more probable scenarios, at least for now, is for XRP to consolidate rather than dip further. If the bulls manage to break the key resistance at $0.65, then XRP could rally up to $0.70.

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Crypto Price Analysis Jan-21: Ethereum, Ripple, Cardano, Solana, and Polkadot

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Polkadot.

img1_cryptopost

Ethereum (ETH)

Last night, the significant market crash pushed ETH’s price under the critical support of $3,000, which will now act as resistance. Unfortunately, the loss of this crucial psychological level is a major blow to most market participants and sets the stage for ETH to potentially explore lower levels this year. Compared to seven days ago, ETH lost 11.4% of its dollar value.

The outlook on the market is very bearish, and one of the possible scenarios is for ETH’s price to rally and confirm the $3,000 level as resistance, after which the correction may continue. The current support is now found at $2,800 but appears weak.

Looking ahead, considering this latest breakdown in market structure, ETH has a good chance to fall lower in 2022. Targets such as $2,000 or below are now a very real possibility due to the current price action. The only way this can be avoided is if ETH reclaims the $3,000 level and turns it into support again.

ETHUSD_2022-01-21_10-37-56
Chart by TradingView

Ripple (XRP)

XRP did not fare better after last night, losing the key support at $0.70, which is now being contested between bulls and bears. Overall, the cryptocurrency lost 9.9% of its price in the past week. The next key support level is found at $0.65 and may provide a short relief if the decline continues.

What is interesting to note about the XRP price action is that the drop yesterday was quite shallow if we compare it to BTC or ETH. This signals that the market already considers XRP to be at a significant discount. This may, of course, change in the future if the market remains bearish, but the bears were not as aggressive in this case.

Earlier this week, XRP gave some bullish signals, such as the higher lows on RSI and bullish MACD. However, due to this last drop in price, those signals have now been invalidated.

XRPUSDT_2022-01-21_10-59-06
Chart by TradingView

Cardano (ADA)

ADA’s price action this past week resembles a roller coaster with price volatility being off the charts. After it rallied to $1.6, the price dropped back to $1.2. These are swings exceeding 30% in a few days. The key support just above $1 has not been tested during this most recent drop, but it did push ADA to erase most of its recent gains. Overall, the cryptocurrency is back where it was last week.

The resistance above $1.5 will likely not be tested any time soon considering current market conditions and the indicators on ADA are quickly turning bearish. It would be interesting to see how it performs in the coming week if the market remains bearish.

Looking ahead, Cardano just saw the release of its first decentralized automated market maker called SundaeSwap, which seems to have had a very difficult rollout with transactions stuck and huge slippage. The creators warned that they may face bottlenecks on the network, but this does not seem to bode well for ADA holders.

ADAUSDT_2022-01-21_11-12-01
Chart by TradingView

Solana (SOL)

Yesterday night, SOL broke below the key support at $132, and the decline has temporarily stopped at the $120 level. However, this breakdown signals that SOL may fall to the next key support in the next few days found at $113.

The previous support has turned into resistance, and unless SOL moves above $132, it seems unlikely that this downtrend will end anytime soon. Overall, SOL had a terrible week, losing 15.6% of its value.

With this latest crash, the RSI has entered the oversold area (<30 points) on the daily timeframe, and the MACD did a bearish crossover. These are key signals that the bears have full control of the price action.

The overall picture for SOL is bleak, and the question is if it will manage to maintain a price level above $100. A failure there will signal a much deeper correction for SOL in 2022.

SOLUSDT_2022-01-21_11-13-20
Chart by TradingView

Polkadot (DOT)

DOT also lost its key support at $24, ending a long consolidation period within a large price range ($24 – $32) that started in December 2021. Now, the price appears set to test the next key support level at $20. Due to this most recent price action, DOT has lost 11.2% of its valuation in a week.

The resistance is found at $24, as former support levels turn into resistance during an indecisive market. The indicators also continue to signal a bearish price action.

The coming week may see a general bounce across the market, and DOT may retest the $24 level. It is, however, important to keep an eye on the bigger picture and not be lured into potential traps.

DOTUSDT_2022-01-21_11-21-42
Chart by TradingView

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Cryptocurrency charts by TradingView.






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