Gold prices steady, holding sharp gains in wake of soft U.S. jobs data
U.Today - Technical indicators have started to flash warnings of a possible volatility spike, which means that XRP is currently treading on the edge. Although the asset has recovered to the $2 mark and displayed some bullish impulses, it is still unable to overcome the crucial 100 EMA level, which is currently a formidable resistance barrier. When we take into account the approaching crossover between the 50 EMA and 100 EMA, the situation becomes even more unstable.
Even though it is not as well known as the 200 EMA-based death cross, this shorter-term crossover frequently portends more volatility on the charts. In the past, a downward 50/100 EMA cross has caused sudden changes in momentum, which occasionally led to steep price drops. If the cross is validated in the upcoming sessions, XRP might experience increased selling pressure and volatility, which could cause investor confidence to be shaken.
A short-term moving average, frequently used to gauge momentum, the 26 EMA, is currently below XRP’s price as well. Failure to maintain above this line usually indicates a decline in short-term strength which, when combined with wider EMA compression, makes for an ideal environment for volatile price fluctuations.
Volume is still an issue. Buyers did not really follow through on the rally from sub-$2 lows, and the 100 EMA’s recent rejection supports the notion that investor interest is waning. Because of its lack of conviction, XRP may be exposed to any macro or crypto-specific catalyst, such as headlines from regulators or more general market corrections. The current state of XRP is tense.
Although there is still hope because the price is above the $2 technical resistance, waning momentum and an approaching EMA crossover indicate that the asset should prepare for volatility. Traders should brace for higher volatility — and perhaps a return to bearish territory — if the 50/100 EMA cross appears and the 100 EMA keeps rejecting upward moves.
Ethereum aims upwards
A new upward trendline appears on the daily chart, suggesting that Ethereum has just discovered its next crucial support structure. After weeks of volatile declines, ETH is now stabilizing in the $1,600–$1,700 range, and the recently established trendline is providing much-needed confidence for market players.A short-term structure of higher lows has been established by the ascending line, which has been visible over the last few sessions. This could be a bullish indication of renewed accumulation and optimism. The present upward wedge structure may serve as a springboard for a reversal provided it is bolstered by rising volume and market sentiment, even though ETH is still far from regaining important moving averages such as the 50, 100 or 200 EMA, which are situated well above the current price levels.
Even though there have been occasional spikes in buying activity, volume trends have not been consistent enough to support a significant breakout. However, the RSI, which is currently at 42, is progressively moving out of oversold territory, supporting the notion that the downward momentum is abating.
Having said that, the trendline also presents a dilemma. A rejection of short-term bullish attempts and the potential for a continuation of the previous bearish trend would occur if Ethereum broke below this recently formed structure. Under those circumstances, ETH might test the $1,500 range or even return to support levels below $1,600.
Ethereum is currently trading slightly above $1,630 and is getting close to a possible wedge pattern breakout. ETH may retest the $1,900 resistance if it closes decisively above $1,700, but the market requires confirmation from volume and macro support.
Dogecoin stays volatile
Dogecoin’s volatility is about to increase as both technical and fundamental indicators suggest a major move. Following its recovery from the $0.14 support zone, the well-known meme coin is now trading at about $0.16, demonstrating resilience. A near-100 million DOGE token unlock that is imminent, however, might buck the recent upward trend and possibly drive the asset lower.The market has historically experienced significant selling momentum due to significant unlock events, and Dogecoin is no different. It is reasonable for investors to be concerned about short-term dilution and increased market supply given the anticipated large influx of tokens into circulation.
Conversely, it appears from the chart that Dogecoin is attempting to regain its position. The price is circling just below the resistance level of $0.17, which has been tested several times lately. A confirmed breakout above this level might pave the way for a run toward $0.21 — the next resistance level. Although there is still moderate volume, a recent spike in bullish trading indicates that buyers have not completely pulled out. But the picture is still complicated.
The fact that the RSI is in neutral territory indicates that there is neither excessive buying pressure nor an overbought situation for the asset. Although the price action appears to be slightly bullish, DOGE may be rejected and retraced given its proximity to several resistance levels, such as the 50 and 100 EMA lines.