Bitcoin fell again on June 25, but fortunately gained back about 50% of its losses in the last 24 hours. On the other hand, XRP and DOGE saw a little blessing in disguise as JP Morgan did label both the coins as “rat poison” among others in a recent survey, but it did bring them into the limelight. Cardano made a few headlines as ADA reached a new milestone achieving over 650k staking addresses.
XRP’s June 24 movement helped the coin flip $0.644 into support for a while before returning to move under it. The coin has been rather stable in the last 48 hours and continued to remain consolidated within $0.644 resistance and $0.548 support. On Balance Volume indicator displayed continued selling as the blue line kept falling at press time.
Bollinger Bands indicated no imminent volatility on the 4-hour chart since the bands were parallel at the moment. As the basis was in support, any further movement can be expected in that direction. Squeeze Momentum Indicator showed rising bearish pressure as the coin continued to be in an active squeeze (black dots).
When the squeeze releases and if the movement is still bearish, the market could experience some losses.
Cardano [ ADA ]:-
Cardano has been under a lot of volatility in the last few days. The coin flipped $1.3 into resistance on June 22, then support on June 24, and then resistance again on the very next day. At the time of writing, trading at $1.2, ADA kept moving above $1.16 support. Parabolic SAR displayed an uptrend initiated at the time of writing, observing the presence of a white dot under the candlesticks.
Capital inflows spiked in the last 24 hours and Chaikin Money Flow indicator reached the highest it has in almost 3 weeks, registering a slight downtick at press time. Finally, Awesome Oscillator showed some positive signs as bullish momentum could be seen creeping in at the time of this report.
If the market cues turn bullish, the coin could once again turn $1.3 into support moving forward.
Dogecoin [ DOGE ]:-
Owing to its high volatility, Dogecoin established a strong support and resistance range. DOGE kept its movement consolidated within $0.285 and $0.21 as expected. Relative Strength Index (RSI) remained on the neutral line at the moment. Although the purple line indicator did reach into the overbought zone on June 25, it made a correction and came back down to 50.0 soon after.
MACD did not display any clear indication of a bullish or bearish crossover since both the lines were moving close to each other. Simple Moving Averages lines were in varying positions. 50 SMA (orange) line was in support as it moved under the candlestick, whereas 100 SMA (red) line was in the resistance, far above the price indicator.
The established range will be DOGE’s home for a few more days until strong market cues come into play.