The post What to Expect? Dogecoin (DOGE) Reaches Equilibrium, Bitcoin (BTC) Critical Support Level Reached appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The XRP chart shows a descending flag pattern, indicating that the asset has entered a critical phase. A possible decline is frequently indicated by this bearish continuation pattern. The 26 EMA, which has historically served as a turning point for the asset, is currently where XRP is trading, though, and it gives some hope for stabilization or even a possible rebound.  Declining highs and lows within a narrow channel are characteristics of the descending flag. The steadily declining trading volume during this phase is a positive indicator despite the fact that it may appear concerning. When volume decreases and prices fall, it usually indicates that there is not much selling pressure.  XRP/USDT Chart by TradingView This could indicate that consolidation rather than a long-term bearish trend is driving the downward movement. The 26 EMA is a significant support level for XRP, and any bullish recovery depends on its ability to stay above it. A recovery from this level might cause XRP to return to testing resistance at $2.40. If this level is broken, it may open the door for a move toward the $2.60-$2.80 range, which is home to more resistance.  On the other hand, if the 26 EMA is not maintained as support, XRP may test lower. The 50 ,which is at $1.69, may be revisited…

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Filed under: News - @ December 25, 2024 1:17 am