Big XRP Crisis, Arbitrum (ARB) Faces Big Correction, Hope Candle Appears on Cardano (ADA)

Big XRP Crisis, Arbitrum (ARB) Faces Big Correction, Hope Candle Appears on Cardano (ADA)

The XRP market is facing a noisy phase as critical technical indicators point to a potentially deepening crisis. A detailed analysis of the XRP price chart reveals a significant break below the 200-day EMA, a bearish signal that could herald a further price decline.

Content
Advertisement

The XRP market is facing a noisy phase as critical technical indicators point to a potentially deepening crisis. A detailed analysis of the XRP price chart reveals a significant break below the 200-day EMA, a bearish signal that could herald a further price decline.

This breakout is accompanied by what appears to be an imminent bearish crossover of the EMA, where the short-term moving average is about to cross below the long-term average. Such a crossover would likely confirm the dominance of bearish momentum, increasing the risk of a continued XRP decline.

XRUSDT
XRP/USDT chart by TradingView

Adding to the worrying technical setup is the descending volume in the middle of the downtrend. Typically, falling volume can suggest a lack of conviction in the downtrend, but it can also indicate that a significant price drop has not attracted new buying interest, which could lead to a longer bear market.

Focusing on specific price levels, XRP is currently facing a clear resistance level of around $0.66, which it must overcome to alter the current bearish narrative. On the downside, the support level to watch is around $0.42, breaching of which could significantly undermine market sentiment and lead to accelerated selling pressure.

Related
XRP Price Analysis for January 20

For a reversal scenario, the bulls would need to push the price back above the 200-day EMA and initiate a bullish crossover of the EMA to flip the script. A significant increase in purchasing volume, potentially triggered by positive developments in Ripple’s ongoing legal challenges or adoption news, could help catalyze such a reversal.

Arbitrum turns back again

The cryptocurrency market is witnessing a substantial correction in the price of Arbitrum (ARB), the native token of the largest Layer 2 scaling solution for Ethereum.

The ARB chart illustrates a notable pullback from its recent highs, indicating a bearish reversal pattern that could potentially extend further. The asset has rapidly lost value, which could be a symptom of the current sentiment towards Ethereum and its associated L2 solutions, as the market sees a resurgence of interest towards ecosystems such as Solana, known for its high performance and lower transaction costs.

Related
Cardano (ADA) Sees a 1,300% Rise to $7 if This Price Prediction Comes True

Chart analysis reveals a critical local support level at around $1, a threshold that is crucial for ARB to maintain to avoid further declines. On the upside, resistance to watch lies around the $1.8 mark, which previously limited bullish moves and may continue to pose a barrier to recovery.

For a reversal scenario in the foreseeable future, ARB would need to recover and consolidate above the $1.05 support, possibly driven by increased user adoption or technological milestones within the Arbitrum ecosystem that could reignite interest and confidence. .

Cardano shows some hope

Cardano has recently lit a flame of optimism on the chart. On January 19, a “candle of hope” was lit when ADA witnessed a sharp reversal from the 100-day moving average.

This reversal candle represents not only a temporary respite but a potential change in market sentiment. While the medium-term trend has been bearish, the decreasing volume accompanying the downward price action suggests that selling pressure is weakening.

Related
What is happening with Cardano (ADA)? This latest report says a lot

Zooming in on specific levels, ADA has found solid support at around $0.4126, a line that has historically been defended by bulls and could serve as a springboard for a potential recovery. On the other hand, the asset faces immediate resistance at $0.5591. This level has been a persistent barrier to bullish moves and must be overcome convincingly for ADA to regain its bullish momentum.

For a bullish reversal scenario to materialize, ADA will need to ride the “candle of hope” momentum and break through resistance, ideally with increasing volume to validate the move. A sustained break above this level could draw marginalized investors back into the market, further fueling the recovery.

Additionally, if overall market conditions stabilize and positive developments within the Cardano network continue, such as advancements in scalability or new partnerships, these could serve as catalysts to reverse the current bearish trend.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة