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XRP, Tezos, Decentraland Price Analysis: 05 December

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After an early December recovery window, the bears halted the bullish momentum and altered the trend in their favor. As a result, XRP and Tezos continue to flash slackening signs as they hit their monthly lows on 3 December.

MANA finally ended its upswing after an up-channel breakdown over the last week.

XRP

TradingView, XRP/USDT

After striking its two-month high on 10 November, XRP resonated with the market dominaters by steadily declining since then. Post an up-channel breakdown, XRP price action marked a falling broadening wedge. Since then, the bulls retested the upper trendline multiple times but failed to propel an upswing. 

As the price fell below the golden 61.8% Fibonacci level, a further breakdown occurred below the 16-week long resistance and the 38.2% Fibonacci level at the $0.88-mark.

XRP lost more than half of its value since 10 November. Accordingly, it touched its four-month low on 3 December. Since the bulls ensured the $0.6-support, the alt saw traded at $0.8254 after noting a 6.9% 24-hour gain.

The RSI practically struggled to reach the 40-mark over the past day. It stood near the oversold region. Also, the DMI hinted at a continuing bearish influence in the near term. 

Tezos (XTZ)

TradingView, XTZ/USDT

XTZ was on a constant downfall after striking its ATH on 4 October. The price diligently withdrew as it moved along the descending channel. Then, even after an over 30% down-channel breakout on 29 November, the bulls failed to sustain their edge as the price could not breach the three-week resistance at the $5.92-mark.

The bulls needed to sustain the three-month resistance at the $4.4-mark. But they failed to uphold that level causing a further breakdown toward its 15-week low at $3.226.

At press time, XTZ traded at $4.032. The RSI stood extremely weak in the oversold region. Unless the bulls can gather momentum with high trading volumes, the bears have ensured a strong immediate resistance at $4.4. Also, the DMI undeniably preferred the bears with a high directional trend. The MACD confirmed the bearish trend as both the lines were below the equilibrium.

Decentraland (MANA)

TradingView, MANA/USDT

During the spring phase for the metaverse tokens, MANA propelled to its ATH on 25 November. After a descending wedge breakout, the price action transposed into an ascending channel.   

However, since then, the bears retested the $4.9-mark resistance thrice before a significant slump. This decline led to an up-channel breakdown for the first time in 23 days. The downturn finally correlated with the market trend, unlike its previous rallies. However, at press time, the alt traded at $3.82 after noting a 13.9% 24-hour gain.

After dipping into the oversold territory, the RSI showed some revival signs. However, it could not cross the half-line. Further, the DMI resonated with the RSI by displaying a bearish bias. But the AO projected a near-term bullish comeback.

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With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.

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