For many of the market’s altcoins, renewed bullish momentum was driving their prices on the charts. With Bitcoin, a minor price hike of over 2 percent was seen, its price has moved above the $53k level; this has, in turn, boosted many altcoins’ prices. Popular altcoins like Aave, DOGE, XRP, and SushiSwap all saw their price surge in the past 24-hours by varying degrees.
Aave
Source: AAVE/USD, TradingView
Aave’s price rose by 5 percent in the past 24-hours and traded at $402 with a 24-hour trading volume of $636 million. The coin is likely to come in contact with a strong resistance of $415 – a level last breached on 18 April. There is strong support at $371 if the trend were to yet again see a reversal.
MACD indicator has undergone a bullish crossover and RSI also looked extremely promising in the current market. RSI was extremely close to entering the overbought zone and signaled steady bullish momentum entering the AAVE market.
Dogecoin [DOGE]
Source: DOGE/USD, TradingView
Dogecoin has now become a top-10 staple in the crypto market. In the past day’s time, DOGE saw a marginal improvement in price and was trading at $0.26. Unlike the remaining coins, DOGE’s price action remained extremely range-bound, trading between support at $0.25 and resistance at $0.30.
EMA ribbons have settled by the coin’s trading price and is likely to offer resistance as DOGE tries to get closer to its immediate resistance. RSI, on the other hand, continues to remain in the neutral zone and showed that buyers and sellers were canceling each other out.
XRP
Source: XRP/USD, TradingView
XRP registered a significant price hike in the past 24-hours of an impressive 27 percent. The coin traded at $1.43 and was inching closer to resistance at $1.5; there are also two strong supports at $1.25 and $1.03 if a trend reversal were to take place.
Technical indicators for the coin looked promising. MACD indicator has undergone a bullish crossover and a reversal isn’t very likely. Stochastic indicator was now well into the overbought zone and showed strong buyer concentration.
SushiSwap [SUSHI]
Source: SUSHI/USD, TradingView
SUSHI continued to be on a strong recovery run and was close to breaching $12.72 resistance at the time of writing. SUSHI traded at $12.4 and had a market capitalization of $1.5 billion. If immediate resistance were to fall, then SUSHI could be well on its way to establish a 100 percent recovery. However, in the case of a trend reversal, SUSHI can rely on the $11.6 price level to help stabilize the price.
MACD indicator has undergone a bullish crossover, while RSI continued to head closer to the overbought zone. Given the strong bullish momentum, SUSHI is likely to breach the immediate resistance quite soon.
