Analysis
XRP, Litecoin, Dogecoin Price Analysis: 29 April
Posted:
| Last updated: January 30th, 2024
The altcoin market has been able to hold on to its bullish momentum, taking into consideration the volatility present in the Ethereum market. XRP has been one such alt that witnessed 46% growth in the past three days. Meanwhile, Bitcoin’s bearish volatility has forced other alts to consolidate.
XRP
Source: XRPUSD on TradingView
The XRP chart showed the asset’s run from $0.9414 to $1.44 over the course of two days. However, $1.44 was a tough resistance to crack and XRP began consolidating above $1.32. At the time of press, the digital asset was trading at $1.38 with the 50 moving average as the support.
With Bollinger bands converging so close to the price, volatility has left the XRP market. The price has been moving within the narrow bands and has reached a point of equilibrium. Relative strength index showed that the buying and the selling pressures were evened out and that traders were holding on to the current price level. As money flowed into the XRP market, it remained fairly bullish.
Litecoin [LTC]
Source: LTCUSD on TradingView
The Litecoin market was also moving within a tight trading range between $250 and $260. The altcoin dropped from a local peak of $267 and began moving within this $10 range. At the time of press, volatility was rising in the Litecoin market even as it continued to trade at $256.
Meanwhile, the strength of buyers and sellers were equal as suggested by the relative strength index. The indicator was currently at 52, but the momentum was still was reducing. Litecoin may continue to trade within this range over the next few trading sessions.
Dogecoin [DOGE]
Source: DOGEUSD on TradingView
DOGE price once again saw a sudden boost on 28 April when its price climbed 31% within four hours. The price peaked at $0.3355 and was followed by a 12% correction. Despite the sudden pump and drop, the asset maintained a value above $0.3003 and was currently trading at $0.3075.
DOGE’s market also appeared to be stable as RSI maintained a value of 49. However, its market was turning increasingly bearish as MACD line dropped under the signal line after the price tested resistance at $0.3270. With strong support, DOGE may continue its sideways movement.
