Three Cryptocurrencies are waiting for a collective rise. One of them will surpass the dollar.
Ripple (XRP/USD)
After the price drops to $0.9 during the downtrend, Ripple moved towards the $1 resistance on December 1st with buying from these levels. The upward movement seen this week was particularly important for the breakout above the 200-day moving average at $0.96.The price of one dollar is the most important resistance point today. Ripple also considers the closing price for the day above $1, which is a psychological level, since it coincides with the 8-day moving average and coincides with Fibonacci value 0.236, according to the last high and low price.
If the price stays around $1.06, it could start an upward trend in a week or so. This price may soon become resistant, so I'm watching closely to see whether it gets there.
On the other hand, the Stochastic RSI oscillator is showing upward momentum and it has moved above its zero-line. Also, if we see a daily close above $1 and the MACD line crosses above zero, then we can anticipate an upward trend in this stock.
Polkadot (DOT/USD)
Polkadot continued its downtrend today with an average selling volume of $34.Polka dots rose to the resistance level at $38.
During the downtrend, especially between November 16-25, the $38 range acted as an important support for Polkadot. After breaking that level lower, the drop hit $32 for a short while but then bottomed out at $34.
Today, this level appears to be acting as a major resistance. At closing above $38, USD/Polkadot could move to test the $40-$42 range. If the upward movement continues, it can be seen that Polkadot may move towards the $46-50 range for the rest of the week.
Also, if the $38 resistance is not broken this week, we will see future action in the $28-$32 range.
Decentraland (MANA/USD)
The Metaverse-based cryptocurrency slowed its upward momentum after peaking at $5.9.As for Decentraland, which consolidated at an average of $4.6-$5.2 last week, $4.65 today is a support area that could be tested by an hourly close below this level. The stock is selling for $4.09 a share, the 21-day exponential moving average.
This passage describes how a trend can change if the market does not follow its original plan. It shows that Decentraland could jump to $5.16 if demand for it continues to rise above what it is currently at, and if the market keeps going up. We can also see that this scenario would be positive for the US dollar currency pair against another currency, like the Euro or the British Pound. Decentraland - moving towards $6.45-$7.00 range.
The daily chart of the USD/Decentraland currency pair is not yet giving an upward signal. Stochastic RSI has also entered oversold territory, while MACD has entered negative territory. This can be interpreted as supportive signals for the momentum towards $4 if not. The $4.65 support is maintained.
Post a Comment