XRP Price Action

Recently, XRP has shown strengthening price action, suggesting that the anticipated death cross may not occur. A death cross occurs when a short-term moving average falls below a long-term moving average, typically signaling bearish momentum. However, XRP's performance hints at a potential reversal.

The 200-day EMA serves as a key technical level currently creating resistance for XRP, which is oscillating around the $0.55 range. If XRP breaks above this level, it could avoid the death cross and embark on a new uptrend. The convergence of EMAs also signals a critical decision point for the asset.

If XRP sustains its position above this resistance, it may invigorate bullish momentum and promote further price increases. Conversely, failing to breach this level could lead XRP downwards, increasing the chances of the death cross. Thus, XRP's future relies on overcoming this significant resistance level.

In summary, XRP's trajectory may shift towards a long-term uptrend or experience more selling pressure, with future price movements determining the outcome. Observing volume and price reactions in the coming days will provide clarity on the asset's direction.

Bitcoin Breaks Through

Bitcoin has recently broken a long-term declining trendline that started in March 2024 by surpassing a significant resistance level of $66,000. If this breakout catalyzes a long-term rally, the $70,000 mark could soon be within reach. However, low volume during the breakout raises concerns, indicating bulls may not be inclined to push Bitcoin's price higher.

Though breaking above $66,000 is a pivotal move, the lack of buyer interest could jeopardize this breakout's significance. The immediate support level to watch is $65,900. If Bitcoin dips back into consolidation and fails to maintain this support, it could undermine the bullish scenario. However, if Bitcoin can sustain its price above $66,000 and attract more buyers, reaching $70,000 remains a possibility.

Bitcoin's current status is critical. A noticeable spike in buying volume is necessary to confirm bullish momentum; otherwise, this breakout may turn into a false signal, leaving Bitcoin vulnerable to downside pressure.

Dogecoin's Momentum Shift

Dogecoin has surged past a significant resistance level, indicating a potential shift in momentum for the meme coin. Previously caught in a double top pattern suggesting bearish sentiment, Dogecoin's recent move past $0.13 invalidates this pattern and signals a possible long-term uptrend.

The breakout above $0.13 is significant as it encourages DOGE to climb higher, particularly if buying pressure continues. The next major resistance level is expected to be well beyond the current price. By breaching this previous pattern, Dogecoin has created an optimistic scenario, signaling potential for a sustained bullish run.

If buyers remain active and push DOGE above critical resistance levels, the coin may target even higher price points. As the breakout persists, this movement beyond $0.13 is positive news for Dogecoin enthusiasts, suggesting additional gains may be on the horizon. Keeping an eye on market reactions in the upcoming days will be essential to determine the longevity of this rally.

This article was originally published on U.Today