In the past 24 hours, cryptocurrencies Ripple (XRP), Dogecoin (DOGE), and Shiba Inu (SHIB) have all posted minor gains following broader market trends, showing a mixture of optimism and caution among traders.
XRP saw a decrease to $0.59 on April 10, but soon mirrored the market’s revival, climbing to $0.62 at the time of the report.
The Accumulation/Distribution (A/D) indicator suggests that the rise in XRP’s price was due to investors buying the dip.
“As of this writing, distribution had not taken over, indicating that a further increase could be likely,” the report notes.
If this upward trend continues, XRP could test the $0.65 resistance level. However, the MACD indicates an ongoing tussle between buyers and sellers, which could stall the rise and keep XRP’s price oscillating between $0.58 and $0.61.
Dogecoin’s recent 6.99% increase, reclaiming $0.20, was bolstered by a favorable chart pattern.
On April 7, a golden cross appeared on the 4-hour chart as the 20 EMA (blue) crossed over the 50 EMA (yellow), signaling a bullish trend.
If this positive momentum holds, DOGE could potentially rise towards $0.22, barring any bearish interventions. Conversely, a fallback to $0.18 might occur if the bulls lose their grip.
Shiba Inu, meanwhile, struggled to overcome the $0.000030 psychological barrier. On April 9, SHIB approached this threshold but faced a pullback after peaking at $0.000029.
At press time, the price had settled at $0.000028.
The Relative Strength Index (RSI) showed a growth in buying activity, hinting at a possible push towards $0.000030 soon.
Supporting this bullish outlook, the Chaikin Money Flow (CMF) also indicated an increase, suggesting that SHIB could be primed for a climb potentially reaching $0.000035 in the short term.
Each cryptocurrency shows unique patterns and indicators that suggest varying short-term price movements. Market participants will likely continue monitoring these signals closely to navigate the volatile crypto market.
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