1️⃣ Amidst the broader market uncertainties, particularly the challenges surrounding the Bitcoin ETF, XRP has seen a notable downward trend.
It has fallen from a high of $0.7 to its current value of $0.526, marking a significant 24.7% drop over the last two months.
However, this downward trajectory found a solid footing at a crucial juncture – the combined support level of $0.5 and a longstanding support trendline. This trendline, active since early 2023, has been instrumental in stabilizing XRP during major market dips, instilling a bullish outlook among investors.
2️⃣ Failed Breakdown Bolsters Polkadot (DOT) Price Rally to $9.5.
In the past month, Polkadot (DOT) Pricewitnessed a sharp 37.6% decline in its price, falling from $9.6 to $6. This downturn led to the formation of a bearish head and shoulders pattern.
On January 22nd, DOT’s price broke below the pattern’s support trendline, intensifying bearish sentiments. However, the recent market recovery has allowed DOT to stay above the critical $6 level and climb back above the neckline support, now trading at $6.85.
This resilience suggests a potential ‘fake breakdown‘, which could stimulate increased buying activity. If this buying momentum is sustained, DOT could target higher levels, aiming for $8.56 initially and potentially revisiting its previous high of $9.6.
3️⃣ Is SUI Price Ready to Hit $1.7?
Defying a broader market downturn, the SUItoken exhibited a remarkable bullish surge last week, jumping from $1.013 to $1.44, an impressive 42% increase. This upward trend has been buoyed by strong buying pressure, positioning SUI on the brink of a potential bullish breakout from its previous swing high resistance near $1.5.
Should SUI successfully breach and hold above the $1.5 threshold, it would not only confirm a sustainable recovery but also empower buyers to pursue a higher target of around $1.7.
Top comments (0)