Ethereum and Dogecoin bullish, while XRP remains neutral
Ethereum jumped sharply in the $ 1550 region and could return to $ 1700 in the next few hours, XRP exhibited neutral momentum in the markets, but had strong support at $ 0.53, while Dogecoin saw buyers come in at $ 0.049 and could return to $ 0.062.
Source: ETH / USD no. TradingView
ETH showed signs of buyers’ dominance in the market. The $ 1550 area had a strong jump and the $ 1720 area was tested. ETH then saw a small drop to $ 1,670 before rising above the $ 1,700 mark.
A move above $ 1730 can be used to enter a long position with a stop loss of $ 1680 and a target of $ 1850.
Source: XRP / USD no TradingView
The confluence between the Fibonacci retracement levels for different price movements marked the $ 0.53 level as an important support level. Short-term Fibonacci levels showed that XRP had recovered well, and XRP also surpassed the $ 0.52- $ 0.528 area.
OBV showed that there was a lack of buyers behind XRP; the fall from $ 0.58 to $ 0.48 had a higher sales volume than the purchase volume that pushed the price back to $ 0.55. MACD also showed that the past few hours have seen momentum stop.
This meant uncertainty for XRP in the short term. In a long-term perspective, the recent drop was only a minor setback for XRP bulls, which made a downstream channel break and had a target of $ 0.63.
Source: DOGE / USDT in TradingView
DOGE has dropped nearly 20% in the past two weeks, dropping from $ 0.062 to $ 0.049, but has seen a strong rebound in support level to trade at $ 0.054 at the time of writing. These two levels have remained intact since mid-February, when DOGE fell from $ 0.085 to consolidate at $ 0.05.
In addition, the Awesome Oscillator showed a change in momentum to bullish when the histogram crossed over the zero line. The Aroon indicator has seen a dominant Aroon down (blue) in the past few days, but that has changed as well.
Turnover was, at best, on average and did not indicate an imminent major movement.