Among the altcoins that cryptocurrency investors show the most interest in are XRP, ADA, and DOGE. However, these three altcoins have failed to demonstrate the expected positive performance amidst the overall market stagnation. On the other hand, if BTC experiences a downward break, critical levels to watch out for have been established.
XRP has been oscillating between moving averages for the past few days, with buying near the 50-day SMA ($0.62) and selling near the 20-day EMA ($0.65) zone. Although buyers have held the 50-day SMA, the downward slope of the 20-day EMA and the RSI in the negative zone indicate bearish advantage. A shallow bounce from the current level could increase the probability of falling below the 50-day SMA. If this happens, the XRP/USDT pair could drop to $0.56.
On the flip side, if the price manages to sustain a close above $0.65, it could pave the way for a retest of the $0.74 region.
Cardano has been undergoing a correction within a descending channel formation in the past few days. This indicates that aggressive buying by bulls is not taking place. The first sign of strength would be a breakout and close above the resistance line of the channel. This could open the doors for a potential rally up to $0.34. If this level is scaled, we could see the July 14th peak of $0.38.
However, unfortunately, at the time of writing, the price has dropped below $0.29 as well. If the current trend continues, the strength of buyers between $0.26 and $0.25 could be tested. Losing this region could lead to a drop to $0.2.
Yesterday, it was revealed that the DOGE-1 Lunar mission will take place between November 15th and 20th. In May 2021, when DOGE was experiencing its best days, Elon Musk stated that they would actually send it to the Moon. However, everything went downhill during the SNL Show. Since then, the DOGE price has never come this close to $1.
As the DOGE-1 mission approaches on November 15th, the price of Dogecoin could potentially differentiate positively in the market with the help of speculators. Looking at the technical outlook, if the price turns up from the current level and surpasses the downtrend line, it would indicate that bulls continue to buy at lower levels. The pair could rise to $0.08 first and then to $0.09, the resistance line of the channel. Although the $0.077 level was tested yesterday due to the news, the price could not sustain it.