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XRP price action has strengthened recently, indicating that the death cross that has been approaching for several months will not occur. When the short-term moving average falls below the long-term moving average, it is known as a death cross and usually indicates bearish momentum. However, recent XRP performance suggests a reversal is possible.
The 200-day EMA is a key technical level that traders frequently monitor, and it is at this level that XRP is currently experiencing resistance. As you can see from the attached chart, XRP is fighting this key resistance level around the $0.55 range. The asset could avoid a death cross if it breaks above the 200 EMA and starts a new uptrend. Another sign of a decision point is the convergence of the EMA.
If XRP can sustain a position above this barrier, it could create new bullish momentum and allow the token to continue rising. Conversely, if XRP is unable to overcome resistance, it may be forced downhill and a death cross is more likely to occur. XRP's future now largely depends on whether it can overcome this significant resistance level.
This asset could avoid an approaching bearish signal and start a long-term uptrend. Alternatively, the market could face further selling pressure in the coming weeks. These developments are determined by future price movements. Observe the volume and price reaction over the next few days to get more clarity on which direction to go.
Bitcoin finally does it
Bitcoin just ended a long-term downtrend line that began in March 2024 by breaking through the major resistance level at $66,000. If this breakout starts a long-term price rally, the long-awaited $70,000 mark could be reached. However, there are major concerns. The low volume on the breakout suggests that the bulls are in no hurry to push Bitcoin price higher.
Technically, going above $66,000 is important, but it means nothing without significant buyer interest. Low volume increases the likelihood that the bulls lack the necessary momentum to sustain a strong uptrend, putting a possible rally at risk. This reluctance among buyers suggests there may be a roadblock in Bitcoin’s climb towards $70,000.
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The $65,900 amount is the next immediate support level. If Bitcoin fails to sustain above this level, the bullish case for Bitcoin could be further undermined if the price reverts to consolidation. However, if Bitcoin can maintain its price above $66,000 and attract more buyers, upward pressure on the price still exists, possibly reaching $70,000.
Bitcoin is still at a critical stage. Volume will need to increase significantly to confirm that the bulls are ready to take over and push prices higher. If not, this jump could prove to be a false sign and leave Bitcoin vulnerable to downward pressure.
dogecoin moves forward
Dogecoin is causing a stir after breaking through a major resistance level, suggesting that the memecoin’s momentum may be about to change. DOGE has recently fallen into a double top, a descending pattern that usually indicates bearish price action.
But now that Dogecoin has crossed the important $0.13 threshold, this pattern is no longer valid. A break above this high, as opposed to a return to the previous bearish cycle, indicates that Dogecoin may be poised for a long-term uptrend. This break is important as DOGE could rise further, especially if buying pressure continues to build. The next major obstacle could be well above the price level, and now that it is above $0.13, the bulls will have ample opportunity to push the price higher.
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Dogecoin reversed the script by moving above the double top pattern, which usually indicates weakness, so it is especially important to defeat this. This leaves room for a more hopeful scenario in which DOGE continues to grow. Volatility is always a consideration, but Dogecoin's recent performance suggests that a long-term bull market may be in the cards.
If buyers continue to buy and the price breaks above significant resistance, DOGE could target even higher levels. However, as the breakout continues, a move above $0.13 is encouraging for Dogecoin fans for now, and there appears to be an opportunity for further upside. Watch the market reaction over the next few days to determine whether this rally truly has lasting strength.
