XRP climbed back above the $0.52 mark after retracing the gains made on its recent surge to $0.75. Cosmos rose above $20 but faced some selling pressure near $22 while Dogecoin succumbed to short-term bearish pressure.
XRP
Source: XRP/USD on TradingView
After reaching a local high at $0.75, XRP was forced back to $0.4 hours later. The sellers were halted at the $0.36 mark, and bulls slowly flipped the 50% retracement level of the upward surge at $0.43 to support.
The climb past $0.49-$0.51 was steady, and the Supertrend indicator flipped to give a buy signal. The Parabolic SAR also gave a buy signal, and either indicator can be used to set stop-losses as well.
The momentum was in favor of the bulls, but the trading volume was not. The $0.57 can pose some resistance to the price and force a dip back to the $0.536 mark.
Cosmos [ATOM]
Source: ATOM/USD on TradingView
Using two different moves up to $19 for ATOM, Fibonacci retracement lines were plotted. The shorter-term surge (yellow) from $11.27, combined with the longer-term move (white) up from $6.76, highlighted some levels of support as well as showed potential targets for ATOM on a successful move beyond $20.
The confluence at $14.9 marks it as a strong region of support. The price has already tested the 27% extension level for the smaller move, and the confluence between the 27% and 62% extension levels in the $25-$26 region marks it as a potential area of strong resistance. The RSI showed that bullish momentum still held strong, but a move below $19 would signal a dip to $16.8.
In other news, Binance launched staking for ATOM.
Dogecoin [DOGE]
Source: DOGE/USDT on TradingView
Over the past couple of days, DOGE held steady in the $0.07-$0.072 region. The Bollinger bands tightened around the price to indicate lowered volatility, but the tranquility changed into a scenario of bearish pressure over the past few hours.
The price descended towards the lower end of the Bollinger bands and continued to slide. There was some demand to be seen at the $0.063 region, but another retest of this level will see DOGE drop further to $0.0534.
The MACD had also formed a bearish crossover and dived beneath the zero line to show rising bearish momentum.
